Nvidia shares slump amid reports US is ramping up antitrust investigation

Fall overnight comes after it shrinks by $279bn on Tuesday in biggest one-day drop in value by US company

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Shares in the AI chip designer Nvidia have continued to slide overnight after a report said US authorities were ramping up an investigation into whether the company had breached competition laws.

The company’s shares fell 2.4% in after-hours trading, exacerbating a near-10% drop in the regular trading session that slashed its value by $279bn (£212bn) to $2.6tn, marking the largest one-day drop in history for a US company.