Nvidia insiders sold over $1 billion in stock taking advantage of the market surge -- Financial Times
Nvidia insiders have sold over $1 billion in stock over the past year, with trading activity significantly increasing recently. As the company's stock price reached an all-time high, over $500 million in stock was sold this month. CEO Jensen Huang has also begun selling shares, marking the first time since September. Nvidia's stock price has rebounded more than 60% from its low on April 4
Reuters, June 29 - According to a report by the Financial Times, insiders at Nvidia (NVDA.O) have sold more than $1 billion worth of company stock over the past year, with recent trading activity significantly increasing as executives capitalize on investor interest in artificial intelligence (AI).
The report states that as the stock price of the California-based chip design company has surged to an all-time high, over $500 million worth of stock was sold this month.
Documents from the U.S. Securities and Exchange Commission show that Nvidia CEO Jensen Huang has also begun selling shares, marking the first time since September.
After an analyst claimed that the chip manufacturer would spark a "golden wave" of artificial intelligence, Nvidia's stock price hit an all-time high on Wednesday, and the company reclaimed its title as the world's most valuable enterprise.
The recent surge in the company's stock reflects a revival of "AI trading" in the U.S. stock market. In recent years, optimism surrounding this emerging technology has driven significant increases in chip stocks and related tech companies.
Nvidia did not immediately respond to Reuters' request for comment.
Nvidia's stock price has rebounded more than 60% from its closing low on April 4
