Nvidia has been fined $5.5 million for failing to disclose their 2018 crypto revenue

[WYP]

A slap on the wrist for listing their mining related sales as "gaming" revenue.



Read more about Nvidia's $5.5 billion fine from the SEC.

 

[Dark NighT]

Thats like pocket change for Nvidia, doubt it will motivate them to do better?!


Wait, the thread title says million but article link says billion, what is it? xD

 

[NeverBackDown]

$5.5 million is nothing for them. Should have been $100 million for intentionally misleading people.

 

[KingNosser]

2018 seems a while back doubt they have changed like asking for the loose change down the back of the couch.

 

[Dicehunter]

Should be 100 times that amount.

 

[Warchild]

Should be 100 times that amount.

Should do what they do when my company gets fined... its often a percentage of your revenue for a given period of time. So it ensures you are punished.

Already then came reports that Telenor was liable to face huge fines for hindering competition. DN cited the boss of ESA at the time as saying that the biggest fine could amount to 10 percent of the company’s total revenues, which were NOK 98.5 billion in 2011. That would put a fine at nearly NOK 10 billion (more than USD 1 billion) if ESA were to conclude that Telenor has broken competition rules, but former ESA director Per Andreas Bjørgan said most fines are lower than the maximum allowed.

That was what our competitor was fined. Which for a smaller company compared to Nvidia, hits hard. Nvidias fine compared to that is pathetic!
The fine was indeed lower, but the principle stands. Its still based on revenue %

 

[AlienALX]

This stuff is all taken into account. Trust me.

This is not the first time where a large corporation ignores fines as there is more money in taking the fines and behaving in this manner.

Intel have done it, Microsoft did it for years and years.

The largest one I can remember (ignoring Intel's tactics against AMD) was when M$ baked their MSN sign up into Win 98. Even if you clicked next it would still try and get you to sign up. They were fined over it, but I can absolutely guarantee they made more money by doing that and paying the fines.

In a way they are still doing it now. You install Win 10 or 11 and you specifically say no to Onedrive and Office and yet still they both install and Onedrive runs. Even if you tell it "Store only locally" it still installs itself and pesters you until you remove it.