Nvidia insiders sold over US$1bil in stock amid market surge
NEW YORK: Nvidia insiders sold over US$1 billion worth of company stock in the past year, with a notable uptick in recent trading activity as executives capitalize on surging investor interest in artificial intelligence, the Financial Times reported on Sunday.
More than US$500 million of the share sales took place this month as the California-based chips designer's share price climbed to an all-time high, the report said.
Nvidia's chief executive Jensen Huang started selling shares this week for the first time since September, the SEC filing showed.
Nvidia's stock hit a record on Wednesday, and the chipmaker reclaimed the crown as the world's most valuable company after an analyst said the chipmaker was set to ride a "Golden Wave" of artificial intelligence.
Its latest gains reflect the US stock market's return to the "AI trade" that fueled massive gains in chip stocks and related technology companies in recent years on optimism about the emerging technology.
Nvidia did not immediately respond to a Reuters request for comment.
Nvidia's shares have rebounded over 60 per centfrom their closing low on April 4, when Wall Street was reeling from President Donald Trump's global tariff announcements.
US stocks, including Nvidia, have recovered on expectations the White House will reach trade deals to soften the tariffs.
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