On September 17, 2024, at the Salesforce Dreamforce conference in San Francisco, California, Nvidia CEO Jensen Huang talked with Salesforce CEO Marc Benioff on stage.
Justin Sullivan | Getty Images News | Getty Images
NVIDIA Chief Executive Jensen Huang has temporarily completed a sale of stock in the chipmaker, cashing out more than $700 million under a prearranged plan.
The 61-year-old executive approved a deal in mid-March to sell up to 6 million Nvidia shares by the end of the first quarter of 2025. According to reports, June 13 and September 12 New supervision filing.
Although the sale was conducted under a 10b5-1 plan, which allows insiders to sell stock under a pre-planned structure, Nvidia shares appeared to get a boost from Tuesday's update, trading more than 4% higher.
NVIDIA
The chipmaker has been the biggest beneficiary of the artificial intelligence boom, with its shares up more than 140% this year. Earlier this year, Nvidia's market capitalization briefly exceeded $3 trillion, and its dominance has become so great that it often affects broader market and investor sentiment.
Nvidia declined CNBC's request for comment.
Barron's The completion of Huanghuang's scheduled sales was first reported on Tuesday.
Following the sale, Huang now holds 75.4 million Nvidia shares and another 786 million shares held through various trusts and partnerships. File separately. In the company's latest proxy statement, Huang is listed as the company's largest individual shareholder.
Nvidia sells processors that power the generative AI boom and provides services such as OpenAI's ChatGPT. Corporate arithmetic Microsoft, Yuan, letter, Amazon, Oracle as its main customer.