Ft: Nvidia insiders sold shares for over a billion as the stock soared on AI
People inside the Nvidia company sold shares worth over a billion dollars during the market surge, reports the Financial Times
1' min read
1' min read
Nvidia insiders have sold more than $1 billion worth of the company's stock in the past year, with recent trading activity increasing significantly as executives capitalised on investors' growing interest in artificial intelligence. The Financial Times reports.
More than $500 million in share sales took place this month, while the California-based chip company's share price reached an all-time high, according to the report.
The CEO is also selling
.Jensen Huang, Nvidia's CEO, started selling shares this week for the first time since September, according to documents filed with the SEC.
Its latest gains reflect the US stock market's return to the 'artificial intelligence market', which has fuelled huge gains in chip stocks and related technology companies in recent years, thanks to optimism about emerging technology.
Nvidia did not immediately respond to a request for comment from Reuters.
