Nvidia will pay $5.5 million to settle charges filed by the US Securities and Exchange Commission. The graphics card manufacturer did not tell the agency that cryptocurrency mining played a key role in the growth in profits from sales of GPUs in 2018.
Nvidia violated “securities” and “stock exchange” laws by failing to disclose that its success was due to “unstable business growth” that could mislead investors. Moreover, the company tried to confuse investors by claiming that the demand for cryptocurrencies was indeed affecting other aspects of its business at the time.
An Nvidia spokesperson declined to comment.
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