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Nvidia already paid a $5.5 million fine to the SEC in 2022 for failing to disclose the effect cryptocurrency had on its gaming business in 2018 and 2019, without admitting or denying the SEC’s statement.
Fascinating how this works. You would think incorrect financial reporting for a publicly listed company would be a critical violation. And yet the fine is comically small and Nvidia has option to neither admit or deny a violation (and yet they paid the fine). There is an almost surrealist quality to this episode.
How is NVIDIA supposed to know what their consumer GPUs are being used for?
The whole issue is around knowingly misleading the public, not Nvidia making a mistake with in its revenue segmentation policies.
