A California federal judge has certified an investor class in a securities lawsuit accusing Nvidia and CEO Jensen Huang of misleading shareholders over crypto-related GPU sales.
The ruling allows investors who bought Nvidia stock between August 2017 and November 2018 to pursue claims collectively, focusing on whether disclosures about crypto mining demand impacted share prices.
Judge Haywood Gilliam said the decision is procedural and does not determine whether Nvidia committed fraud.
Shareholders allege Nvidia understated more than $1 billion in revenue tied to crypto mining, which contributed to volatility when demand weakened.
The claims point to sharp stock declines in 2018 following earnings disclosures and guidance cuts, including a roughly 28% drop over two days in November.
Nvidia said investors from that period have ultimately benefited from its long-term strategy and that it will contest the claims in court.
The case will move to its next phase, with a conference scheduled for April 21, as legal proceedings continue toward a potential trial.