Nvidia Corp CEO Jensen Huang (黃仁勳) unloaded shares worth nearly US$169 million last month, the most he has netted in a single month, as insatiable demand for the chips used to power artificial intelligence (AI) drove the stock to fresh peaks.
The sale of 1.3 million shares, his first of the year, came during a month when Nvidia’s market value rose above US$3 trillion for the first time. That briefly made it the world’s most valuable company and pushed Huang, 61, into the rarefied group of ultra-rich with fortunes above US$100 billion.
The series of transactions were executed under a 10b5-1 trading plan adopted in March, the company’s regulatory filings showed.
Photo: Ann Wang, Reuters
Nvidia declined to comment.
Nvidia’s dominant share of the market for high-end accelerators has made it one of the biggest beneficiaries of the AI craze.
Due to the stock’s more than 150 percent gain since the start of the year, Huang’s net worth has more than doubled — rising by US$63.7 billion — in the past six months. The cofounder of the company is now ranked 13th on the Bloomberg Billionaires Index, with a US$107.7 billion fortune.
Huang is not the only insider selling. Nvidia executives and directors unloaded more than US$700 million of shares in the first half of this year, a dollar amount that dwarfs any other period in company history.
Huang has cashed out nearly US$1.1 billion in shares since the start of 2020, including last month’s sales.
Additional filings showed that Huang plans to continue selling in this month.
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