According to a report from Reuters on Monday, antitrust regulators in France are readying to charge NVIDIA (NVDA) for allegedly anti-competitive practices.
The publication, citing people with direct knowledge of the matter, said the French regulatory body would be the first to do so.
The French statement of objections, also known as the charge sheet, would follow dawn raids in the graphics cards sector in September last year. According to Reuters, its sources said the raids targeted Nvidia (NASDAQ:NVDA), the world's largest maker of chips for artificial intelligence and computer graphics.
The company has seen demand for its chips surge following the release of the generative AI application, primarily ChatGPT, late last year.
Its stock has followed suit, climbing more than 192% in the last 12 months. At the time of writing on Monday, Nvidia shares have dipped 1.4% from Friday's close.
However, the emergence of GenAI has also resulted in heightened regulatory scrutiny in the US and Europe.