2024-07-08
Nvidia Corp. CEO Jensen Huang sold
shares worth nearly $169 million in June 2024.
This was the most he’s netted in a
single month. The sale of 1.3 million shares was his first of the year. The
transactions were executed under a 10b5-1 trading plan adopted in March.
The sale came during a month when
Nvidia’s market value rose above $3 trillion for the first time.
This briefly made Nvidia the world’s
most valuable company and pushed Huang, 61, into the group of ultra-rich with
fortunes above $100 billion.
Huang has cashed out nearly $1.1
billion in shares since the start of 2020, including June’s sales. Additional
filings show that he plans to continue selling in July.
Nvidia stock has increased 10 folds
since October 2023 driven by advancement in AI. Nvidia’s GPUs powered
artificial intelligence like ChatGPT.
