Core Viewpoint - NVIDIA Corporation and its CEO, Jensen Huang, are facing a class-action lawsuit for allegedly concealing over $1 billion in GPU sales related to cryptocurrency mining during the 2017-2018 boom, raising concerns about the company's historical reliance on the crypto market [1][7]. Group 1: Lawsuit Details - The lawsuit claims NVIDIA misclassified significant revenue from crypto mining under its Gaming segment, misleading shareholders about the sustainability of its growth and downplaying exposure to the volatile crypto market [2]. - Plaintiffs, led by a Swedish investment firm, argue that NVIDIA executives knowingly understated the impact of crypto miners on gaming segment revenue [2]. - Internal documents and testimonies suggest NVIDIA earned between $1.1 billion and $1.35 billion more from crypto-related GPU sales than publicly disclosed, primarily through GeForce gaming cards sold to miners [3]. Group 2: Market Impact - The lawsuit alleges that the majority of crypto-related sales were through consumer GeForce cards, particularly in high-demand markets like China [4]. - Following a crash in crypto prices in late 2018, NVIDIA reduced its revenue guidance due to excess inventory and declining miner demand, resulting in a stock drop of over 28.5% in just two trading days [4]. - This decline led to a significant loss in market value and triggered the original lawsuit in 2018 [4]. Group 3: Legal Proceedings - Judge Haywood S. Gilliam Jr. certified the class after NVIDIA could not demonstrate that its statements had no effect on its stock price [5]. - An internal email from a senior vice president indicated that the company's valuation remained high due to public assurances regarding its business [5]. - A case management conference is scheduled for April 21, 2026, as the lawsuit progresses [5].