Nvidia stock, the world’s biggest graphics chip maker, rose $1.70 on Thursday after reports surfaced that the company may be facing a regulatory crackdown over its use of bitcoin.
Nvidia stock has risen more than 300% over the last year and the company has been facing regulatory scrutiny over the cryptocurrency’s volatility and its possible link to the recent hacking of the company’s computers.
On Thursday, the company issued a statement to the Wall Street Journal stating it was aware of the reports.
“We take all reports of alleged violations of U.S. securities laws very seriously,” the company said in the statement.
The announcement follows reports in late August that Nvidia was working on plans to shut down the company entirely by the end of 2020. “
At this time, we have no further comment.”
The announcement follows reports in late August that Nvidia was working on plans to shut down the company entirely by the end of 2020.
However, it is unclear whether the company will follow through with those plans.
In September, Nvidia announced that it was reopening the company to the public.
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