US artificial intelligence (AI) chip giant Nvidia could face a fine of up to US$1 billion under Beijing's antitrust probe, which was widely seen as a retaliatory move against Washington's escalated chip restrictions,

The investigation against Nvidia is seen as a reaction to the increasing chip export restrictions imposed by the U.S. government.

The tit-for-tat between the U.S. and China is gearing up quickly, most recently with China’s State Administration for Market Regulation on Monday opening an antitrust probe into chip giant Nvidia. The probe,