Jensen Huang sold $322.7 million worth of Nvidia shares in July. Last month’s sale brings his total sales this summer to nearly $500 million. The sales came before tech stocks began to sell off sharply on sluggish earnings and weak economic data.
Thank you for your registration!
Access your favorite topics on the go with your personalized feed. Download the App
By clicking “Sign Up”, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at any time by visiting your settings page or clicking “unsubscribe” at the bottom of our emails.
Jensen Huang sold a record amount of Nvidia shares from his portfolio last month, bringing his total sales this summer to nearly $500 million, positioning the semiconductor giant’s CEO to brave the global stock selloff.
According to filings with the Securities and Exchange Commission, Hwang sold $322.7 million worth of stock in July and nearly $500 million more this summer.
The sale was part of a prearranged trading plan that Hwang submitted in March, and the trade was well-timed: Hwang preempted a broad tech sell-off that gathered steam last Thursday after a series of weak economic data and tech companies missed earnings targets.
Nvidia shares in particular had been under pressure even before the recent market volatility as investors began to question the impact its heavy investments in artificial intelligence will have on the company’s bottom line.
The stock fell another 7% on Monday, bringing its total decline over the last month to about 20%.
Hwang’s sale joins a company-wide sell-off that has seen company insiders sell more than $1 billion of stock so far this year, according to a Bloomberg analysis.
Hwang has sold $1.4 billion worth of company stock since 2020, and plans to continue selling shares through August, according to a separate filing.
