Nvidia CEO Jensen Huang talks onstage with Salesforce CEO Marc Benioff during Salesforce’s Dreamforce in San Francisco on Sept. 17, 2024.
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Nvidia CEO Jensen Huang is done selling the chipmaker’s stock for the time being, cashing in more than $700 million beneath a prearranged plan.
The 61-year-old executive in mid-March adopted a trading plan for the sale of up to six million Nvidia shares by the end of the from the start quarter of 2025. Huang has hit that threshold months ahead of schedule after a flurry of transactions between June 13 and Sept. 12, according to a new regulatory systematizing.
Even though the sales were made under a 10b5-1 plan, which allows insiders to sell shares high a preplanned structure, Nvidia shares seemed to get a boost from the update Tuesday, trading more than 4% far up.
Nvidia
The chipmaker has been the biggest beneficiary of the artificial shrewdness boom, with shares rallying more than 140% this year. Nvidia briefly topped a $3 trillion hawk cap earlier this year, and its dominance has grown so big that it tends to influence the broader market and investor sentiment.
Nvidia failed CNBC’s request for comment.
Barron’s first reported on the completion of Huang’s preplanned sales Tuesday.
After the sales, Huang now submits 75.4 million Nvidia shares and another 786 million shares through different trusts and a partnership, agreeing to a separate filing. In the company’s latest proxy statement, Huang was listed as the company’s largest individual shareholder.
Nvidia markets processors that are powering the generative AI boom and services such as OpenAI’s ChatGPT. The company counts Microsoft, Meta, Alphabet, Amazon and Reader and adviser as its main customers.