NVIDIA Dismisses Investor Claims of $1 billion Wrongdoing in Company Finance Reporting Amidst Crypto Boom

[Raevenlord]

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.



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[Cybrnook2002]

I think we all know here that NV had to know what was driving demand, just have to "prove" it.

 

[Kohl Baas]

I think we all know here that NV had to know what was driving demand, just have to "prove" it.

On the other hand, technically they really couldn't had to have any way of telling what the cards are used for. That would've raised some questions about privacy which is not a gentle beast to poke nowdays...

 

[QUANTUMPHYSICS]

Cryptocurrency is a massive ponzi scheme.

Government is NEVER going to allow it - if for nothing more than preventing money laundering.

 

[Upgrayedd]

Boohoo I made a buncha money boohoo

 

[windwhirl]

Cryptocurrency is a massive ponzi scheme.

Depends on where you live. If you live anywhere with high inflation (actual high inflation, +40% annual), it becomes an alternative way of saving money.

 

[TheoneandonlyMrK]

On the other hand, technically they really couldn't had to have any way of telling what the cards are used for. That would've raised some questions about privacy which is not a gentle beast to poke nowdays...

Are you joking, so they ramped production of a product without knowing where the market demand was and for what type of task's.
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.

 

[my_name_is_earl]

Cryptocurrency is a massive ponzi scheme.

Government is NEVER going to allow it - if for nothing more than preventing money laundering.

You can't counterfeit or print more Bitcoin. You can tracked and trace every transaction. Name a currency that have that properties? None! Cash and credit is the biggest ponzi scheme. The world encounter many wars and injustice because of government unlimited money printing. You work for the rest of your life just to have your money devalue by big government. Most of crypto is honest money. No debt, no unlimited printing (expect something stupid like XRP), and limited supplies. Heck, even precious metal like gold can be counterfeit, but you can't counterfeit Bitcoin.

 

[windwhirl]

Cash and credit is the biggest ponzi scheme.

As someone who lives in a country where no one in the government has a better idea than to print money 24/7, I can agree with this.

 

[dinmaster]

I think they would have known not long after a surge in their sales and a high demand for gpu's. They would want to know why, after a bit some of the oem's had specific versions for mining and motherboards too. with news nowadays, id be surprised if they didn't know and when the prices for crypto started to jump i'm sure employees inside the company knew, maybe they were even in the crypto scene and it went through the company like wildfire. but like it was mentioned, prove it.

 

[Foxisfire]

Seriously! Crypto transactions are traceable? If crypto transactions are traceable why does every wannacry type virus and scam on the planet use some kind of crypto as the top option of payment.... because its NOT traceable! Some of the most evil things (sex trade, hitman etc.) on the internet are crypto exclusive. Every type of block-chain "money" needs some kind of governing body to keep it regulated so that type of evil is traced and eradicated. Money is evil too but crypto is the whole new level.

 

[yotano211]

Seriously! Crypto transactions are traceable? If crypto transactions are traceable why does every wannacry type virus and scam on the planet use some kind of crypto as the top option of payment.... because its NOT traceable! Some of the most evil things (sex trade, hitman etc.) on the internet are crypto exclusive. Every type of block-chain "money" needs some kind of governing body to keep it regulated so that type of evil is traced and eradicated. Money is evil too but crypto is the whole new level.

They are both evil to even levels

 

[Fluffmeister]

We go from Nvidia's Stock PLUNGING (TPU's AMD fan community cheer).

To: https://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.

 

[wolf]

PS, I love reading those comments, that'll teach ya Nvidia!!!1

Twats.

NVIDIA really is the company that nerds love to hate isn't it.

 

[Fourstaff]

Salty investors who didn't correct for crypto effect when making their own analysis, now trying to shift blame to Nvidia for false representation. At least, that is my current understanding of the situation.

 

[lexluthermiester]

Salty investors who didn't correct for crypto effect when making their own analysis, now trying to shift blame to Nvidia for false representation. At least, that is my current understanding of the situation.

That's actually fairly spot-on.

 

[mtcn77]

Except when Nvidia responded affirmatively to a direct consequential question.
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.

 

[stimpy88]

nVidia were VERY fast to make their products scarce on the shelves, and equally FAST to raise the prices when they were magically able to ramp up production of their GPUs again... GPU shortage, my a$$!

nGreedia are no better than the DRAM cartel.

On the other hand, technically they really couldn't had to have any way of telling what the cards are used for. That would've raised some questions about privacy which is not a gentle beast to poke nowdays...

Their drivers are full of telemetry. They know exactly what people are doing.

 

[Basard]

Cryptocurrency is a massive ponzi scheme.

Government is NEVER going to allow it - if for nothing more than preventing money laundering.

Yup.... Only the government is aloud to launder money, damnit!

 

[lexluthermiester]

nVidia were VERY fast to make their products scarce on the shelves, and equally FAST to raise the prices when they were magically able to ramp up production of their GPUs again... GPU shortage, my a$$!

nGreedia are no better than the DRAM cartel.

Assumptions. You have no way of backing that claim. And considering that AMD GPU's were affected equally at the same time, if your little conspiracy theory was true then AMD would be just a guilty..

Their drivers are full of telemetry. They know exactly what people are doing.

No they are not. If you choose to install the drivers only and not install the NVidia Experience, the telemetry is not installed.

You really need to stop with the paranoia.

 

[mtcn77]

And considering that AMD GPU's were affected equally at the same time,

This is not what the topic is about. The shareholder meeting, remember?

 

[windwhirl]

No they are not. If you choose to install the drivers only and not install the NVidia Experience, the telemetry is not installed.

Did people even use Windows for this? Because I honestly don't imagine a warehouse full of machines running Windows for mining cryptocurrency.

 

[lexluthermiester]

Did people even use Windows for this? Because I honestly don't imagine a warehouse full of machines running Windows for mining cryptocurrency.

Good question. I don't know enough about crypto-currencies to know if there are Windows based mining binaries. I imagine there is, maybe?

 

[stimpy88]

Assumptions. You have no way of backing that claim. And considering that AMD GPU's were affected equally at the same time, if your little conspiracy theory was true then AMD would be just a guilty..

No they are not. If you choose to install the drivers only and not install the NVidia Experience, the telemetry is not installed.

You really need to stop with the paranoia.

It was only after the nVidia GPUs were unavailable, that the AMD ones also started to become hard to source.

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...

 

[lexluthermiester]

It was only after the nVidia GPUs were unavailable, that the AMD ones also started to become hard to source.

No, I was watching closely. It happened at the exact same time, across the board.

You seriously need to learn to use google

Look a mirror when you say that.

as well as your own memory better.

Don't need to, I have business records.

And yes, nGreedia drivers DO HAVE TELEMETRY. Jeez.

Whine...

Install them, and use a network monitor, if you can figure how to use one out...

You say that like you think I haven't. YOU need to learn how to use a firewall. You also need to learn the concept of context.