AI tokens rally as Nvidia rejects DOJ subpoena reports

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Several artificial intelligence (AI) chips are back after Nvidia denied reports that it had received a subpoena from the Department of Justice (DOJ) over antitrust concerns.

The top AI tokens by market cap, including Near Protocol (NEAR), Render (RENDER), and Internet Computer (ICP), are up more than 5% each in the past 24 hours, recovering from their losses yesterday, according to data from CoinMarketCap.

Injective (INJ) has shown an impressive recovery, rising 14% in the last 24 hours. The crypto fell from around $17.3 to $15.3 after news of Nvidia’s antitrust subpoena broke. Its price hit $17.50 after Nvidia addressed the complaints.

Meanwhile, the prices of Bittensor (TAO) and Artificial Superintelligence Alliance (ASI), which Crypto Briefing noted were the most affected yesterday, rose 3.8% and 1.4% respectively.

Despite the resurgence, most AI tokens are still experiencing 7-day losses with the overall market decline.

Shares of Nvidia ( NVDA ) also rose slightly, according to Google Finance data. NVDA fell 9.5%, wiping about $278 billion from the company’s market cap, after a report on Tuesday revealed that the DOJ had sent Nvidia antitrust subpoenas as part of an ongoing investigation.

While the reason for the sustained investigation is unclear, Nvidia’s recent dominance of the AI ​​chip market is believed to be a factor. With over 80% of the market share, Nvidia faced little competition from AMD and Intel until recently.

Nvidia officially addressed the recent rumors on Wednesday, denying that it had received an antitrust subpoena from the DOJ.

“We have checked with the US Department of Justice and have not been subpoenaed,” an Nvidia spokesperson said, as reported by CNBC. “However, we are happy to answer any questions regulators may have about our business.”

The company has claimed that its success is due to the quality of its products and the value they provide to customers. They also noted that customers have the freedom to choose the best solution for their needs.

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