Nvidia Fined 5 5M For Downplaying Importance Of Volatile Cryptomining On Sales Of Gaming Gpus
Announcing the results of its investigation, which specifically relates to Nvidia’s actions during its fiscal year 2018, the SEC claimed that while the tech company had reported material growth in revenue within its gaming business at the time, it had failed to reveal to investors that - based on its own information - its gaming sales were driven in significant part by cryptomining. Why’s that important? As the SEC puts it, “These significant earnings and cash flow fluctuations related to a volatile business for investors to ascertain the likelihood that past performance was indicative of future performance....