Meaning (1) – to go crazy, to lose reason, to go insane / to go mad with anger
Example Sentence – Tom said that the boss went nuts when he asked for a raise.
Idioms with a synonymous meaning – go nuts / lose the plot or lose your mind / lose it / to get your wires crossed / go bananas / lose your marbles / go stark raving mad / go off your rocker / take leave of your senses / freak out / go bonkers / go beserk / blow your top / fly off the handle / go ballistic / go off at the deep end / pop your cork / freak out / go ape / go mental
Meaning (2) – go nuts can also be used to say, ‘go ahead’ or ‘help yourself’
In Context – “Can I have some wine?” (guest) “Sure, go nuts.” (Host)