China has decided to drop an antitrust investigation into Google, as discussions progress between China and the US over the fate of social media platform TikTok, the Financial Times reported on Thursday.
The media outlet noted the move signals a tactical shift by China in its trade talks with the US, with Beijing redirecting its regulatory focus to Nvidia.
China's State Administration for Market Regulation opened the investigation against Google in February.
It alleged that Google violated China's anti-monopoly law, without providing details on the investigation or on what Google had supposedly done to break the law.
Just this week, China accused Nvidia of violating its anti-monopoly law, following a preliminary investigation into the AI chip giant's business practices.
Alphabet Inc (NASDAQ:GOOG)’s Class A shares rose 0.4% to $250.51 in late-morning trading on Thursday.