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The Securities and Exchange Commission (SEC) has reached a $5.5 million settlement with NVIDIA over the company’s alleged failure to disclose that crypto mining was a significant contributor to its 2018 revenue. The company also agreed to a cease-and-desist order based on violations of the Securities Act of 1933 and the Securities Exchange Act of 1934's disclosure requirements. According to the SEC, throughout the fiscal year 2018, the company failed to disclose that crypto mining was the primary driver of sales of its graphics processing units (GPUs) advertised and developed for gaming. The SEC stated, “NVIDIA’s omissions of material information about the growth of its gaming business were misleading given that NVIDIA did make statements about how other parts of the company’s business were driven by demand for crypto, creating the impression that the company’s gaming business was not significantly affected by crypto mining.” The SEC contends that NVIDIA’s disclosure failures deprived investors of critical information to evaluate the company’s business in a key market. https://www.coindesk.com/business/2022/05/06/nvidia-failed-to-disclose-cryptomining-revenue-impact-in-2018-sec-says/
Nvidia’s graphics processing units (GPUs) continue to excel as an infrastructure platform for state-of-the-art artificial intelligence language models. Recently, the company’s GPUs were able to train BERT, one of the world’s most advanced AI language models, in a record-breaking 53 minutes.1 Getting computers to understand all the nuances of human languages and respond appropriately has long been a holy grail in developing natural language processing (NLP) technology.2 Language models can now complete inference in just 2.2 milliseconds, i.e., understand and reach a conclusion based on information received.3 Strides made in NLP could be significant, with potential adopters spread across numerous industries. 1. Nvidia Developer Blog,” NVIDIA Clocks World’s Fastest BERT Training Time and Largest Transformer Based Model, Paving Path For Advanced Conversational AI,” Aug 13, 2019. 2. Ibid. 3. Nvidia Developer Blog, “Real-Time Natural Language Understanding with BERT Using TensorRT,” Aug 13, 2019.