Nvidia CEO Jensen Huang has reportedly begun selling shares of the chipmaker’s stock as part of a plan to sell $865 million worth of stock by the end of 2025.
According to a filing Monday with the Securities and Exchange Commission, between June 20 and June 23, Huang sold off 100,000 shares, for $14.4 million. A second filing, made on Monday, shows Huang plans to sell another 50,000 shares imminently.
Nvidia board director Mark Stevens also sold over 600,000 shares for approximately $88 million on June 18.
Huang, the world’s 12th richest person, has a pre-set trading plan that allows him to sell 6 million shares by year-end without alarming investors. The recent sales are part of Huang’s 10b5-1 plan – adopted in March and announced last month in Nvidia’s quarterly earnings report.
Nvidia has recently concentrated on expanding globally, especially in Europe, where it released its “AI blueprint” for a predicted industry boom in the region. Speaking to an online audience and at the iconic Dôme de Paris earlier this month, Huang said, “We now have a new industry, an AI industry, and it’s now part of the new infrastructure, called intelligence infrastructure, that will be used by every country, every society.”
Following Huang’s share selloff, Nvidia’s stock price increased by 1%.
By CEO NA Editorial Staff
