Nvidia hid what number of GPUs it was promoting to cryptocurrency miners, says SEC

Nvidia hid how many GPUs it was selling to cryptocurrency miners, says SEC

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Nvidia has agreed to pay $5.5 million in fines to america Securities and Alternate Fee to settle costs that it did not disclose what number of of its GPUs have been being offered for cryptocurrency mining, the company introduced as we speak.

These costs are unrelated to the present (slowly ebbing) crypto-driven GPU scarcity. Fairly, they take care of an identical however smaller crypto-driven bump in GPU gross sales again in 2017.

The company’s full order (PDF) goes into extra element. Throughout its 2018 fiscal yr, Nvidia reported will increase in its GPU gross sales however didn’t disclose that these gross sales have been being pushed by cryptocurrency miners. The SEC alleges that Nvidia knew these gross sales have been being pushed by the comparatively risky cryptocurrency market and that Nvidia did not disclose that info to buyers, deceptive them in regards to the firm’s prospects for future development.

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