NVIDIA faces class-action lawsuit over alleged concealment of crypto mining revenue shortfall

金色财经_ · 2026-03-26T07:47:37+00:00

NVIDIA and its CEO Jensen Huang have been sued by investors for allegedly concealing the extent of the company's reliance on cryptocurrency mining for gaming graphics card revenue, and the class-action lawsuit has been approved. The judge ruled that NVIDIA failed to prove that the relevant statements did not affect the stock price, and investors accused the company of hiding over $1 billion in revenue. NVIDIA responded that the share of cryptocurrency mining business is small and stated that the supply chain is under control.

金色财经_

2026-03-26 07:47:37

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Goldman Sachs reports that on March 26, American tech giant NVIDIA and its CEO Jensen Huang were accused by investors of concealing their dependence on sales related to cryptocurrency mining for their gaming graphics cards during 2017 to 2018. A federal judge has approved a class-action lawsuit to proceed.

According to a ruling issued Wednesday by Judge Haywood S. Gilliam of the California federal court, NVIDIA failed to prove that its statements regarding cryptocurrency mining revenue had no impact on the company’s stock price. Investors first sued NVIDIA in 2018, alleging that the company concealed over $1 billion in graphics card sales related to cryptocurrency mining, and that Jensen Huang deliberately downplayed the scale of such demand. In 2022, the U.S. Securities and Exchange Commission (SEC) fined NVIDIA $5.5 million for not disclosing the impact of its cryptocurrency mining business.

NVIDIA has consistently claimed that cryptocurrency mining accounts for only a small part of its business, and that most mining-related sales are accounted for separately from its core gaming division. The company also stated that its supply chain is under control and capable of clearing excess graphics card inventory smoothly.

However, the plaintiffs argue that a significant portion of NVIDIA’s revenue driven by crypto demand is realized through GeForce gaming graphics cards, with most of this revenue recorded under the gaming segment, exposing the company to risks associated with fluctuations in the cryptocurrency market cycle.

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