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Summary
Nvidia (NVDA) fell 1.17% to $215.38 on October 28, 2026, while the Nasdaq Composite rose 0.27%.
Financial media tied the drop to a Reuters report that the US Justice Department is asking how Nvidia's $12.9 billion Hugging Face deal could affect AI competition.
AMD, Broadcom and Micron closed higher in the same session, leaving Nvidia 1.44 percentage points behind the Nasdaq.
Gotrade News - In the latest Nvidia stock news, shares of Nvidia (NVDA) fell 1.17% to close at $215.38 on Wednesday, October 28, 2026.
Financial media tied the decline in Nvidia stock to a Reuters report that the US Department of Justice is asking how Nvidia's planned $12.9 billion acquisition of Hugging Face could affect competition in artificial intelligence.
NVDA Trading Data
Data
Value
Closing price
$215.38
Change
-$2.56 (-1.17%)
Previous close
$217.94
Day range
$214.47 to $219.99
Volume
93.0 million shares
30-day average volume
104.2 million shares
Market cap
$5.19 trillion
Regular-session close on Wednesday, October 28, 2026, 4:00 p.m. New York time. Stock prices: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. Volume and 30-day average volume: Nasdaq.com. Indices and the 10-year Treasury yield: Yahoo Finance daily closes for the same date.
Nvidia traded as high as $219.99 during the session but finished only $0.91 above the day's low, closing near the bottom of its range. Trading was lighter than usual, with volume 10.70% below the stock's average.
The decline went against the broader market. In the same session the Nasdaq Composite rose 0.27% to 26,549.85, the S&P 500 gained 0.28% to 7,743.98 and the Dow Jones Industrial Average added 0.19% to 52,475.10, leaving Nvidia 1.44 percentage points behind the Nasdaq. The US 10-year Treasury yield closed at 5.05%, up 5.2 basis points.
According to Bloomberg, Reuters reported on Wednesday, citing people familiar with the matter, that the Justice Department is making inquiries about the Hugging Face deal, including how it may affect competition in AI and whether it would let Nvidia control a key distribution point for AI models. Bloomberg's write-up of the report was published at 3:31 p.m. New York time, before the session closed.
As reported by Stocktwits, Nvidia shares slipped about 1% after the reports. The questions add to a years-long antitrust probe of Nvidia's conduct that began under former President Joe Biden and covers its acquisitions, investments, sales practices and whether it has pressured customers.
The DOJ has also reportedly examined Nvidia's December 2025 purchase of SchedMD, its licensing deal with chip startup Groq and its acquisition of Run.ai.
Nvidia declined to comment, and the Justice Department said it does not typically comment on pending matters, per Bloomberg. Per PYMNTS, CNBC confirmed the probe with an unnamed source after the Reuters report.
Nvidia announced the agreement on September 3, per PYMNTS. Under its terms, roughly $11.9 billion goes to Hugging Face's investors and up to about $1 billion funds an equity-based retention program for employees who join Nvidia, according to Stocktwits.
NVDA Stock Analysis: Supporting Factors and Risks
Supporting Factors
In announcing the deal, CEO Jensen Huang said Hugging Face "will remain an open platform for the entire AI ecosystem" and that "Nvidia compute will not be required to build on or deploy through Hugging Face," according to PYMNTS. This is the company's own position.
The selling did not spread to the chip group: Advanced Micro Devices, Broadcom and Micron all closed higher in the same session, and the Nasdaq Composite rose 0.27%.
PYMNTS noted that an investigation is not evidence of wrongdoing and may not lead to lawsuits.
Risks
The Hugging Face questions sit inside a broader, years-long DOJ probe of Nvidia's deals, investments and sales practices, per Stocktwits.
Bloomberg reported in September that the DOJ was investigating whether Nvidia structured its $20 billion licensing deal with Groq to avoid antitrust review.
Stocktwits reported that the Hugging Face deal is expected to close in the first half of 2027, so the regulatory review continues while the deal is pending.
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M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
Hendrie Saputra holds a Master of Business Administration (MBA) with a concentration in Business Risk & Finance, along with professional experience in finance, marketing, and project management. He is experienced in analyzing market data and developing research-driven business strategies.
