Nvidia CEO Jensen Huang concluded the sale of the chipmaker’s stock, amounting to more than $700 million, under a prearranged plan. This information surfaced during his appearance onstage with Salesforce CEO Marc Benioff at Salesforce’s Dreamforce event on September 17, 2024, in San Francisco, California.
Huang, aged 61, had initiated a trading plan in mid-March to sell up to 6 million Nvidia shares by the end of the first quarter of 2025. His target was reached earlier than anticipated following a series of transactions between June 13 and September 12, as documented in a recent regulatory filing.
Despite the sales occurring under a 10b5-1 plan, which permits insiders to sell shares through a predetermined structure, Nvidia’s shares experienced a more than 4% increase in trading on Tuesday.
Nvidia has significantly benefited from the surge in artificial intelligence, with its shares rising over 140% this year. The company briefly exceeded a $3 trillion market cap earlier in the year, exerting substantial influence over the broader market and investor sentiment.
Nvidia declined to comment on the matter to CNBC. According to Barron’s report on the completion of Huang’s preplanned sales, Huang now owns 75.4 million Nvidia shares and an additional 786 million shares through various trusts and a partnership, per another regulatory filing. He remains the largest individual shareholder in the company.
Nvidia’s processors are central to the generative AI boom, supporting services like OpenAI’s ChatGPT. Major customers include Microsoft, Meta, Alphabet, Amazon, and Oracle.
