Bloomberg reported that Jensen Huang, CEO of chip manufacturing giant Nvidia, sold US$323 million of his own stock before the stock price fell in July, setting a personal cash-out record for the highest amount in a single month. In the past two months, he has sold nearly US$500 million in stock. .

(Nvidia’s new AI chip has been delayed, asset management companies: the company is in a bubble stage and AI has been overhyped)

Do you know AI and trading? Jen-Hsun Huang sold $323 million in Huida shares in July

The report pointed out that Huang Renxun had sold Nvidia shares for US$322.7 million in July and also made a large number of sales in June, selling a total of nearly US$500 million in shares in two months.

As part of the 10b5-1 stock sale plan formulated by Huang Renxun in March this year, it is reported that up to 600,000 Huida shares will be sold by the end of March 2025 at the latest.

It's worth noting that the timing of these stock sales coincides with a broader decline in technology stocks caused by concerns about a potential global recession. Nvidia's stock has fallen 14% in the last three trading days, and has fallen from its recent highs. More than 23%.

(The Dow Jones collapsed another thousand points, and Fed officials shouted: The economy is not in recession)

On Monday, global stock markets faced a carnage due to weaker-than-expected economic data, disappointing Q2 earnings reports from technology companies, and the unwinding of the Japanese yen carry trade. Capital markets from Asia to the United States to Europe faced heavy losses. Investor panic and selling pressure.

Huida executives have sold shares to cash out more than US$1 billion so far this year

On the other hand, in addition to Huang Renxun, Nvidia board member Mark Stevens and the company’s second largest shareholder, and Jay Puri, executive vice president of global operations, also sold US$125 million and US$10 million in stocks respectively in July.

Since the beginning of this year, Nvidia insiders have cashed out more than $1 billion in shares, while Huang Jenxun has sold about $1.4 billion in shares since 2020 and will continue to reduce Nvidia holdings in August as planned. .

Last year, Lianxin News discussed whether there was insider trading in stock sales by U.S. companies. However, in fact, the U.S. Securities and Exchange Commission (SEC) has very strict regulations on stock sales by internal company executives. It is reported that relevant stock sales plans need to be completed within 3 months. months before it is formulated or revised and submitted to the SEC.

Jen-Hsun Huang's net worth has dropped by $5.9 billion in recent weeks

In mid-June, Nvidia's market capitalization exceeded US$3.335 trillion for the first time, officially surpassing Microsoft and becoming the global market capitalization champion.

However, due to the sluggish employment data in the United States in July and the turbulent international war situation, which caused a sharp decline in global stock markets, Huang Jensen's net worth has also shrunk by US$5.9 billion in recent weeks as Nvidia's stock price has fallen. He dropped to No. 16, with a fortune of $88.4 billion.​

(The Dow Jones Index plummeted 1,000 points, the Nasdaq fell 6%, and global markets were in shock: Will the weather still be good tomorrow?)

On the other hand, one of its competitors, AMD AMD, released a brilliant Q2 financial report at this time, challenging Nvidia's dominant position by promoting main products and actively acquiring new startups.

(Su Zifeng announced AMD’s profit financial report: MI 300 chips strongly challenge Huida and AI layout)

This article accurately escapes from the top! Nvidia CEO Jen-Hsun Huang sold shares again before the plunge, cashing out $500 million in two months. First appeared on Chain News ABMedia.