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Nvidia CEO Jensen Huang concluded a planned sale of more than $700 million worth of company stock, filings showed.
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The CEO still holds 75.3 million Nvidia shares directly and another 786 million through various trusts and a partnership.
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The chipmaker’s shares surged nearly 4% Tuesday and have more than doubled in value since the start of the year amid booming demand for artificial intelligence infrastructure.
Nvidia (NVDA) CEO Jensen Huang concluded a planned sale of more than $700 million worth of company stock, regulatory filings Tuesday showed.
Huang had previously announced his intention to sell as many as 6 million shares of Nvidia by the first quarter of 2025 under the Securities and Exchange Commission’s (SEC’s) 10b5-1 rule, which allows insiders to set up a trading plan for selling stocks. He reached that limit months ahead of the plan’s expiration, with the sale of 120,000 shares worth nearly $14.3 million, according to an SEC filing.
The CEO still holds 75.4 million Nvidia shares directly and another 786 million through various trusts and a partnership, according to another filing.
Shares of Nvidia closed nearly 4% higher at $120.87 Tuesday. They’ve more than doubled in value since the start of the year amid booming demand for the company’s chips to support artificial intelligence (AI).
Read the original article on Investopedia.
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