Nvidia Lawsuit: Chipmaker Agrees With Court Set Date Amid Legal, Market Headwinds
Highlights
- Chipmaker adheres to court deadline in the Nazemian v. NVIDIA copyright infringement lawsuit.
- The court announced a standing order for parties to submit a Joint Case Management Statement on August 13.
- AI Coins rally amid latest developments despite Nvidia downgrade.
In the latest development in the Nazemian v. NVIDIA lawsuit on copyright infringement allegations by book authors, the company has agreed to meet and confer for filing a joint case management statement no later than the date provided by the district court.
Book authors sued Nvidia for copyright infringement alleging that the chipmaker’s AI platform NeMo was trained on datasets of copyrighted content.
Nvidia Files Notice Accepting Date Set By Court
In the latest filing in the court dated late July 5, Nvidia Corp responded to a plaintiff’s submission of a “Rule 26(f) Report” for discovery and further court proceedings. The court earlier announced a standing order for parties to submit a Joint Case Management Statement on August 13.
Nvidia said the opposition is not adhering to the deadline set by the court and asked the company to provide its positions by July 3. Plaintiffs sent NVIDIA a draft “Joint Case Management Statement and Rule 26(f) Report, stating for the first time that they believe Rule 26(f) requires the separate filing of a report within 14 days of the Rule 26(f) conference.”
Nvidia argues that the court doesn’t intend the parties to file a duplicate report and will continue to meet and confer to submit a joint case management statement by August 13.
Also Read: Grayscale Removes Polygon (MATIC) And Retains These Crypto Assets In Funds
AI Coins Rises Amid Nvidia Rally
Nvidia faces many headwinds including Nvidia crypto mining revenue case. AI coins have rallied as Nvidia recently became a top company amid AI developments by the firm. NEAR, FET, RNDR, INJ, GRT, AKT, and others saw 7-15% gains in the last 24 hours due to market rebound and recent collaborations in AI space.
Artificial Superintelligence Alliance (FET) formed with a merger of Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) also helped bring upside momentum in AI coins. ASI token (FET) price rallied 12%, with the price currently trading at $1.27.
However, Nvidia stock price closed 1.91% lower on Friday at $125.83 after New Street Research analyst Pierre Ferragu downgraded the stock to neutral from buy due to concerns over valuation. NVDA has rallied over 160% this year.
Also Read: Bitcoin Recovers As US Jobs Data Raises Odds Of Fed Rate Cuts In September
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