Nvidia insiders sold over $1 billion in stock amid market surge, FT reports
A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
(Reuters) -Nvidia insiders sold over $1 billion worth of company stock in the past year, with a notable uptick in recent trading activity as executives capitalize on surging investor interest in artificial intelligence, the Financial Times reported on Sunday.
More than $500 million of the share sales took place this month as the California-based chips designer's share price climbed to an all-time high, the report said.
Jensen Huang, Nvidia's chief executive, started selling shares this week for the first time since September, the SEC filing showed.
Nvidia's stock hit a record on Wednesday, and the chipmaker reclaimed the crown as the world's most valuable company after an analyst said the chipmaker was set to ride a "Golden Wave" of artificial intelligence.
Its latest gains reflect the U.S. stock market's return to the "AI trade" that fueled massive gains in chip stocks and related technology companies in recent years on optimism about the emerging technology.
Nvidia did not immediately respond to a Reuters request for comment.
Nvidia's shares have rebounded over 60% from their closing low on April 4, when Wall Street was reeling from President Donald Trump's global tariff announcements. U.S. stocks, including Nvidia, have recovered on expectations the White House will reach trade deals to soften the tariffs.
(Reporting by Devika Nair in Bengaluru; Editing by Kim Coghill)
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