Nvidia CEO Jensen Huang talks on stage with Salesforce CEO Marc Benioff during Salesforce’s Dreamforce in San Francisco on September 17, 2024.
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Nvidia CEO Jensen Huang has finished selling the chipmaker’s shares for the time being, cashing in more than $700 million according to a pre-arranged plan.
The 61-year-old executive adopted a trading plan in mid-March to sell up to six million Nvidia shares by the end of the first quarter of 2025. Huang reached that threshold months ahead of schedule after a flurry of trades between June 13 and 12 September, according to a new registration application.
Although the sales were made under a 10b5-1 plan, which allows insiders to sell shares according to a pre-planned structure, Nvidia shares appeared to get a boost from Tuesday’s update, trading more than 4% higher.
Nvidia
The chipmaker has been the biggest beneficiary of the artificial intelligence boom, with shares up more than 140% this year. Nvidia briefly reached a $3 trillion market cap earlier this year, and its dominance has become so great that it tends to influence broader market and investor sentiment.
Nvidia declined CNBC’s request for comment.
Barrons first reported on Tuesday the completion of Huang’s pre-planned sales.
Following the sale, Huang now owns 75.4 million Nvidia shares and another 786 million shares through various trusts and a partnership, according to a separate file. The company’s latest proxy statement listed Huang as the company’s largest individual shareholder.
Nvidia sells processors powering the generative AI boom and services like OpenAI’s ChatGPT. The company counts Microsoft, Meta, Alphabet, Amazon And Oracle as its main customers.