Thursday, July 2nd 2020
NVIDIA Dismisses Investor Claims of $1 billion Wrongdoing in Company Finance Reporting Amidst Crypto Boom
NVIDIA has (not surprisingly) dismissed allegations that it had misled investors in regard to demand towards its GeForce graphics products circa 2017. The original allegation claimed that NVIDIA has wrongfully misrepresented GeForce division sales to investors by including crypto-focused sales on its bottom line. This, investors claim, painted a safer investment opportunity on NVIDIA stock than it actually was - the volatility of the crypto market and associated unpredictability in NVIDIA GeForce products' demand being the sore point for investors. Demand of GeForce products for gaming is considered to be less risk-averse and less elastic than crypto-focused sales.
NVIDIA says that investors cherry-picked corporate statements while ignoring others that, according to NVIDIA, showed transparency. The ammended class suit, which was amended in May 2020 from its original 2017 entry date, accuses Nvidia CEO Jensen Huang and Jeff Fisher, head of gaming, claiming they knew the rise in GeForce GPU sales was linked to the crypto mining boom and wasn't going to last in the long-term. NVIDIA says that executives didn't lie when they described crypto sales as a "small portion" of their revenue (which was disclosed at $6.9 billion for the year 2017). Another contention point from NVIDIA is that executives in the company (and the company itself) had no way of knowing ecactly what purpoze its sold GPUs were being put to.
Source:
The Daily Chain
NVIDIA says that investors cherry-picked corporate statements while ignoring others that, according to NVIDIA, showed transparency. The ammended class suit, which was amended in May 2020 from its original 2017 entry date, accuses Nvidia CEO Jensen Huang and Jeff Fisher, head of gaming, claiming they knew the rise in GeForce GPU sales was linked to the crypto mining boom and wasn't going to last in the long-term. NVIDIA says that executives didn't lie when they described crypto sales as a "small portion" of their revenue (which was disclosed at $6.9 billion for the year 2017). Another contention point from NVIDIA is that executives in the company (and the company itself) had no way of knowing ecactly what purpoze its sold GPUs were being put to.
25 Comments on NVIDIA Dismisses Investor Claims of $1 billion Wrongdoing in Company Finance Reporting Amidst Crypto Boom
Government is NEVER going to allow it - if for nothing more than preventing money laundering.
Cuda is sold on it's compute ability.
They don't need to know shit yet Geforce experience tells all too so your privacy remarks are pure comedy.
To: www.nasdaq.com/articles/why-nvidia-stock-soared-61-in-the-first-half-of-2020-2020-07-03
Investors for ya.
PS, I love reading those comments, that'll teach ya Nvidia!!!1
Twats.
What I love more than the Nvidia crowd is the bitcoin crowd. They don't seem to get bitcoins are tied to bitcoin transactions, so when bitcoin generation stops - that would be 2021, mind you - I suppose they will find some another means of relayed issuance transactional verification? Sounds like circular logic to me.
nGreedia are no better than the DRAM cartel.Their drivers are full of telemetry. They know exactly what people are doing.
You really need to stop with the paranoia.
You seriously need to learn to use google, as well as your own memory better. We were all here moaning for months about what nGreedia was upto.
And yes, nGreedia drivers DO HAVE TELEMETRY. Jeez. Install them, and use a network monitor, if you can figure how to use one out...