Nvidia executives cash out more than $1 billion in stock
PANews reported on June 29 that according to Jinshi, citing the Financial Times, Nvidia (NVDA.O) insiders have sold more than $1 billion of the company's stock in the past 12 months. Trading volume has surged recently as executives cashed out on the AI investment boom. More than $500 million of the stock was sold this month, just as the California chip design company's stock price climbed to a record high. Investors have previously increased their holdings of Nvidia shares, betting on a surge in demand for AI chips, making it the world's most valuable company. Before the stock price rise, Nvidia has experienced a turbulent year: trade tensions and breakthroughs in AI by other countries have threatened demand for its products. CEO Huang Renxun this week launched his first stock sale since September last year. Nvidia said that all of Huang Renxun's sales followed a preset trading plan established in March, which had determined the price and date to trigger the sale in advance. Huang Renxun still holds the vast majority of his Nvidia shares. Ben Silverman, vice president of research at VerityData, commented: "When the stock price fell in the first quarter, he (Huang Renxun) did not sell, which was very wise. He waited for the stock price to rise to a more ideal selling price."
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