Court certifies securities class action against Nvidia over alleged $1B crypto-mining GPU revenue concealment

A federal court certified a class action against Nvidia and CEO Jensen Huang on March 25, 2026, finding investors may pursue collective securities‑fraud claims over disclosures related to GPU sales during the 2017–2018 crypto cycle ^{[1] [2] [3]}.

Plaintiffs allege Nvidia misclassified more than $1 billion of crypto‑mining GPU sales as gaming revenue and seek relief on behalf of investors who held stock between August 10, 2017, and November 15, 2018; the complaint centers on whether the company’s disclosures materially misstated the source of demand for its gaming segment ^{[4] [2] [5] [6]}.

The ruling allows the case to move significantly closer to trial, and reports noted Nvidia’s shares fell sharply after the relevant disclosures and market reaction—about a 28.5% decline across two sessions in the cited period—heightening investor focus on the suit’s potential consequences ^{[2] [4] [3]}.

With class status granted, investors will proceed collectively in the fraud claims and the case will advance toward resolution in federal court ^{[2] [3]}.