Nvidia Ends Down Stretch With Positive News From EU Regulators [Video]

Nvidia (NVDA) shares slowed their recent slide into technical-correction territory Friday, with the tech giant receiving positive news from European regulators who cleared its recent acquisition of competition concerns.

Shares of the artificial intelligence (AI) chip powerhouse have declined in nine of the last 11 trading sessions entering Friday since closing at $145.14 on Dec. 4, but jumped about 2.5% higher Friday afternoon. Shares were down about 10% over that period entering Friday, and about 12% from their last record close of $148.88 in early November.

Nvidia received some positive news ahead of the Christmas holiday as the European Commission, the executive arm of the European Union (EU), on Friday cleared Nvidia’s acquisition of Israeli software maker Run:AI Labs.

The regulators said their review found that the acquisition won’t have any negative competitive impacts, with competing software still available to be used with Nvidia products, as Run:AI isn’t a dominant player in that market.

Announcing the acquisition …