Nvidia has unveiled updates for Omniverse, its real-time graphics collaboration platform, that will facilitate the creation of more realistic metaverse platforms and avatars.
Nvidia also reported that its digital currency-specific products drove a 52% decline in other revenue, given that their revenue during the quarter was "nominal."
In a settlement that the regulator made public recently, Nvidia agreed to a cease-and-desist order as well as a $5.5 million penalty without admitting or denying the SEC’s findings.
Jerry Chan examines Nvidia employee and OpenBSD hacker David Rosenthal's article, which details a lecture he gave at Stanford University on digital currencies and the problem he saw with it.
Nvidia’s fiscal net income has reached $2.4 billion in Q2, but despite the growth, the sales of the tech giant's blockchain mining chip failed to meet expectations.
Nvidia has outperformed expectations in all its market platforms, including gaming, data center, professional visualization and automotive, the company said in a press release.
The authorities collectively seized the allegedly smuggled goods worth $3.8 million in the waters off the Hong Kong International Airport.
A California district judge ruled in favor of the GPU manufacturer in the case, finding that Nvidia did not mislead investors as alleged over the nature of demand for its GPU products.
An Nvidia executive said if demand in the digital currency market picked up to a “meaningful” level, the company could again start selling specialized cards to address the mining demand.
The plaintiffs claim that after launching its GPU dedicated to digital currencies in May 2017 i.e., the Crypto SKU, Nvidia solely attributed the sales of the SKU to miners to demand from block reward miners. Plaintiffs calculate block reward miners purchased $ 1 billion worth of the Nvidia's popular GeForce GPU sales, which Nvidia claimed were purchased by video gamers in 2017.
The suit also alleges that Nvidia gave "false and misleading public statements concerning the company's internal controls, prospects, and earnings." The claim further levies charges that Nvidia simultaneously sold $147 million worth of its shares "at artificially inflated prices."
After the digital currency bubble popped and demand from block reward miners dried up, Nvidia struggled to offload its GPU inventories and saw a 30% drop in its stock price by the end of 2018.
During a court appearance on Sept 17 in the United States' Delaware Court of Chancery, Nvidia's representative counsel argued that the plaintiffs in the case have failed to show a "credible basis" for why Nvidia should be forced to hand over the requested documents.
Per blockchain site Cointelegraph, Patrick Gibbs of Cooley LLP criticized the plaintiffs' choice to "rest on a paper record" at trial without offering live testimony to their purpose for demanding that Nvidia offer up its internal documents. Gibbs also argued that the evidence presented proves that the investors behind the suit currently own stock in Nvidia and thus maintain an interest in the case.
The court instructed both parties to submit post-trial briefings, addressing Nvidia's reasons for not handing over its internal records." title="Nvidia lawyers push back on request for internal records" />
Nvidia attorneys have argued that the ongoing court proceeding does not entitle its investors to access the company's internal records related to the "crypto craze" of 2017 and 2018.
Lawyers for the group of shareholders claim that Nvidia's lawyers convinced the former employee, dubbed "FE 5," to "disavow" several critical statements.