Nvidia he gets a fine of 5.5 million dollars: the accusation is that of having deliberately concealed the number of video cards it sold to cryptocurrency mineras it should have been out in the open, according to the SEC (US Securities and Exchance Commission).
The leading company in the video card market would have deceived investors by reporting a huge increase in “gaming” revenue when in reality this increase was based on the much more volatile market of cryptocurrencies.
An agreement has been entered into between Nvidia and the SEC in which the company agrees to stop any failure to disclose information, even if acknowledging the mistake made as part of the agreement is not contemplated.
The order says that “The company’s sales staff, particularly in China, reported what they believed was a significant increase in demand for gaming GPUs as a result of crypto mining.”: Nvidia in fact had prepared a different line-up of GPUs intended for mining, but the Gaming GPUs were also sold to miners.
In all of this Nvidia did not mention cryptocurrency-related growth as a growth factor in the gaming division, but said crypto is a major factor in other markets, which made the SEC suspicious and prompted it to declare this statement deliberately. misleading.
Source: The Verge
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