Nvidia hit by China monopoly probe as tech war with US escalates 

Nvidia’s market value has ballooned this year on demand for chips that can run artificial intelligence programs

Nvidia was valued at $3.49tr after trading on Friday making it the second biggest US company by market value after Apple.

China has opened a probe into AI chip manufacturer Nvidia over suspicions that the US chipmaker broke anti-monopoly laws around a 2020 deal, taking aim at the AI heavyweight as Washington ramps up sanctions.

The State Administration for Market Regulation opened an investigation into the company’s recent behavior as well as the circumstances surrounding the acquisition of Mellanox Technologies, the government said in a statement on Monday.