NVIDIA was fined $ 5.5 million for concealing the mining business

When it pours, we won’t be gossiping, will we? Even miners are human.

In short, in 2018, NVIDIA had significant revenue growth due to mining, but somehow it did not mention this to investors. The company claimed that profits were going up due to the sale of cards in “gaming”, but how many GPUs actually went to miners, the heads did not prefer to blow. The lack of information could then lead investors in the wrong direction, which means that running a business on the market was all the riskier, which means a possible drop in profits.

The US Securities and Exchange Commission fined NVIDIA $ 5.5 million for the violation. The company itself has not denied or confirmed the allegations, but it agrees with the fine, and thus the unpleasant scratching in the records stops.

Given that NVIDIA earned $ 9.7 billion with a profit of $ 3 billion in 2018 and had sales of $ 26 billion and a profit of $ 9.7 billion in 2021, such a fine is like a mosquito bite on an elephant.

Source: tomshardware

Source: Pctuning – Všechen obsah by pctuning.cz.

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