As a seasoned analyst with over two decades of experience in the tech industry, I have witnessed many CEOs engage in stock transactions that raise eyebrows. However, Jensen Huang’s recent offload of $104 million worth of NVDA shares within a span of ten days is particularly noteworthy given the current market sentiments and Nvidia’s promising future.
Jensen Huang, CEO of Nvidia, is still selling his NVDA shares, causing unease among many investors. Lately, he’s sold around $104 million worth of stock as the asset recovers following a change in investor sentiment. This year, there has been a notable increase in Nvidia’s value due to excitement surrounding artificial intelligence technologies.
Nvidia CEO Sales Top $104 Million
Nvidia’s CEO, Huang, persists with his current strategy of selling off stocks, as evidenced by recent filings. On September 11, he disposed of 240,000 NVDA shares valued at about $26.2 million. This is similar to a transaction on September 9, where he sold the same number of shares, but their value was approximately $25 million.
Nvidia Insider Trading Alert
CEO Jensen Huang recently disposed of approximately $26.2 million in NVDA stocks. Over the past ten days, he has offloaded a total of over $104 million in shares!
— Barchart (@Barchart) September 14, 2024
This month, Huang executed more share transactions, bringing the grand total to over $104 million. Looking back at SEC filings, it appears that massive sales were made, amounting to approximately 5.3 million shares valued at around $633 million. However, despite this, the AI chip manufacturer remains at the forefront of the market, buoyed by growing excitement for its upcoming Blackwell chips.
The surge in interest for artificial intelligence technologies pushed the value of this asset skyward, and there was a comparable increase in the worth of AI-related coins too. Nvidia dominates approximately 80% of the global chip manufacturing market capitalization, and they’ve been consistently gaining ground as we approach year-end. Lately, NVDA stock has seen an upward trend due to advancements in exports to Saudi Arabia. The U.S. government is contemplating permitting this company to export chips, which could fuel optimistic projections for the future since Nvidia continues expanding its operations.
What’s Next For NVDA Price?
Multiple analysts believe that the Nvidia CEO selling shares could indicate a negative trend in the market. This follows a significant drop in value at the beginning of the month, followed by an upturn. Yet, it’s crucial to consider broader economic factors, as a surge in its price last week suggests strong buying interest.
The asset has gained 140% this year coupled with a massive impact of AI coins in the crypto space. This week, AI coins surged after Nvidia CEO tipped a new Industrial Revolution based on the industry’s demand. NVDA price is up 13% this week notching a sharp recovery.
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2024-09-14 21:39