EddieJayonCrypto

 12 Dec 24

tl;dr

The US Supreme Court has declined Nvidia Corp.'s appeal, allowing a shareholder lawsuit over the firm's crypto revenue to proceed. The lawsuit alleges that Nvidia misled investors about its reliance on cryptocurrency mining revenues before a market downturn. The court's decision follows a November h...

The US Supreme Court has rejected an appeal by Nvidia Corp., allowing a shareholder lawsuit over the firm's crypto revenue to proceed. The lawsuit alleges that Nvidia misled investors about its reliance on cryptocurrency mining revenues before a market downturn. Nvidia's CEO is accused of concealing the extent of revenue reliance on crypto mining. Despite legal challenges, Nvidia's stock has surged nearly 190% year-to-date due to strong GPU demand in Bitcoin mining. The company's latest financial report shows significant revenue growth, and it surpassed a $3 trillion market capitalization. Nvidia is also diversifying its business beyond gaming and crypto mining, focusing on next-generation humanoid robotics infrastructure. The lawsuit will continue in a federal district court in California.

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