CALIFORNIA: Nvidia insiders sold more than $1 billion (RM4.22 billlion) worth of company stock in the past year, with a significant portion occurring this month as the chipmaker’s shares soared to record highs, the Financial Times reported.
Over $500 million of these sales took place in June alone, coinciding with Nvidia’s stock surge driven by investor enthusiasm for artificial intelligence.
Chief Executive Jensen Huang began selling shares this week for the first time since September, according to SEC filings. Nvidia’s stock reached an all-time high on Wednesday, briefly making it the world’s most valuable company. Analysts attribute the rally to the AI boom, with one describing Nvidia as riding a “Golden Wave” of artificial intelligence.
The company’s rebound follows a 60% recovery from its April low, when markets reacted to global tariff announcements. U.S. stocks, including Nvidia, have since regained momentum amid expectations of trade deal resolutions. Nvidia did not respond to Reuters’ request for comment.
Source: The Sun Daily
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