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Nvidia (NASDAQ:NVDA) CEO Jensen Huang has initiated the sale of some of his company shares as part of a pre-planned $865 million stock disposal, according to filings with the U.S. Securities and Exchange Commission (SEC) released Monday evening.
Huang sold 100,000 Nvidia shares in two tranches, generating nearly $14.5 million in gross proceeds. This sale is part of a broader plan to offload up to 6 million shares throughout 2024 under a Rule 10b5-1 trading plan. These plans allow corporate insiders to sell stock at predetermined times to avoid insider trading violations and minimize market disruption.
Despite this move, Huang still owns over 900 million shares in Nvidia, maintaining nearly a 4% stake. The proposed sale under the trading plan accounts for less than 1% of his total holdings.
Nvidia shares have surged dramatically over the past two years, fueled by skyrocketing demand for its industry-leading AI chips. The company's GPUs have become central to the global artificial intelligence boom, helping Nvidia climb to the top ranks of the most valuable companies on Wall Street.
Huang has remained bullish on the company’s AI-driven growth, and there are currently no signs that the momentum behind AI hardware sales is slowing. His strategic share sale aligns with personal financial planning, while maintaining confidence in Nvidia’s long-term prospects.
The company’s rapid rise underscores its dominance in the AI chip market, positioning Nvidia as a key player in the ongoing tech transformation driven by artificial intelligence.
