Sens Warren, Wyden, Blumenthal Call on Federal Regulators to Investigate Meta, Google, NVIDIA “Reverse Acqui-hire” Deals

Senators Elizabeth Warren (D-MA), Ron Wyden (D-OR), and Richard Blumenthal (D-CT) urged the Federal Trade Commission (FTC) and the Department of Justice (DOJ) to enforce antitrust laws by investigating recent Big Tech “reverse acqui-hire” transactions, which, the senators warn, appear to be designed to evade antitrust scrutiny and risk further consolidating the Big Tech industry. In January 2026, FTC Chair Andrew Ferguson announced the agency would investigate Big Tech acquihires. The senators highlighted three recent “reverse acqui-hire” deals, which involved Big Tech firms hiring top talent from smaller competitors and acquiring minority stakes in those competitors or licensing their technology, stopping just short of a formal acquisition or merger. The senators argued that these deals may present “significant competitive concerns” because of the market power they give to the Big Tech companies.