NVIDIA Corp. (NVDA) stock edged lower in Thursday premarket trading as investors weighed a U.S. antitrust probe and a mixed tone across equity futures. Nasdaq futures fell less than 0.5%, while S&P 500 futures gained 0.11%.

DOJ Probes NVIDIA-Groq Deal

The Justice Department has launched an antitrust inquiry into NVIDIA's arrangement with AI chip startup Groq, examining whether the deal was designed in a way that sidestepped regulatory review, the New York Times reported Wednesday.

Under the December agreement, Groq granted NVIDIA access to its AI inference technology through what the startup characterized as a nonexclusive licensing deal. Groq CEO Jonathan Ross and COO Sunny Madra subsequently joined NVIDIA.

According to the report, the Justice Department began examining the arrangement soon after it was announced and later issued NVIDIA a formal request for information.

The inquiry reflects broader regulatory attention on transactions that allow major technology companies to secure intellectual property and recruit senior talent from smaller firms without pursuing conventional acquisitions.

Meanwhile, NVIDIA is expanding its AI infrastructure footprint. The company is working with Australian cloud and infrastructure partners to develop up to 2 gigawatts of AI computing capacity by 2027.

The project will use NVIDIA's DSX AI factory platform. Partners include Firmus, Sharon AI, IREN, ResetData, Megaport, CDC, NEXTDC and AirTrunk.

Technical Analysis

NVIDIA trades about 1.2% above its 20-day simple moving average of $220.80. The stock is also 13.3% above its 200-day SMA of $197.09.

The 20-day SMA remains above the 50-day SMA. The 50-day SMA also sits above the 200-day SMA. Both signals support the longer-term bullish trend.

The relative strength index stands at 54.86, putting momentum in neutral territory. NVIDIA also remains in the upper half of its 52-week range of $164.27 to $236.54.

• Resistance: $228 could limit near-term gains if buying momentum fades.
• Support: $190 represents a broader downside level where buyers could step in.

Analyst Outlook

The stock carries a Buy consensus rating with an average price forecast of $349.15.

Rosenblatt maintained Buy with a $390 price forecast on Sept. 4. Needham maintained Buy with a $300 forecast the same day. Citigroup maintained Buy and raised its forecast to $315 on Aug. 27.

MarketDash Edge Rankings

The MarketDash Edge scorecard gives NVIDIA strong Growth, Quality and Momentum readings.

Growth scores 98.11, Quality stands at 97.32 and Momentum is 79.15. However, Value scores just 6.98, reflecting the stock's premium valuation.

Top ETF Exposure

NVIDIA has a 9.94% weighting in the Xtrackers Net Zero Pathway Paris Aligned U.S. Equity ETF (USNZ). Its weighting is 9.79% in the First Trust Innovation Leaders ETF (ILDR) and 9.73% in the Franklin Focused Dynamic Growth ETF (FFOG).

Price Action

NVDA Price Action: NVIDIA shares fell 0.13% to $223.13 in Thursday premarket trading, according to market data.