Insiders at NVIDIA (NVDA, Financial) have sold more than $1 billion worth of company stock over the past year, with over $500 million sold this month as the company's stock price reached historical highs. This surge in sales comes as investors flock to the stock, betting on increased demand for chips used in artificial intelligence applications.
NVIDIA CEO Jensen Huang initiated his first stock sale since September last year, as part of a pre-arranged trading plan set in March. This plan specifies the price and dates for sales, and Huang continues to hold the majority of his shares. VerityData noted that the share price surpassing $150 triggered Huang's sales. Under the plan, he can sell up to six million shares by year-end, potentially earning over $900 million.
Other NVIDIA executives have also capitalized on the company's growth. Long-term board member Mark Stevens announced plans to sell up to four million shares, valued at $550 million, having already sold $288 million worth. Jay Puri, EVP of Worldwide Field Operations, sold approximately $25 million in shares last week. Board members Tench Coxe and Brooke Seawell also executed significant sales this month.
