Jensen Huang, the CEO of Nvidia Corp., has completed his planned sale of over $1 billion worth of the company's shares since June.
The last batch of 25,000 shares was sold on Friday, concluding a strategy initiated by Huang in March to sell up to 6 million shares by the end of the year. Starting in late June, the shares were valued at about $865 million but have since soared over 40% due to growing demand for AI processors.
Based in Santa Clara, California, the company achieved a $5 trillion market value milestone on Wednesday following announcements of several new partnerships, just months after surpassing the $4 trillion mark. This year, it has produced three new billionaires, including board member Brooke Seawell, amid the stock's recent surge.
Since 2001, Huang has sold over $2.9 billion in Nvidia stock and retains a 3.5% share in the firm. This year, he has also donated shares valued at over $300 million to his foundation and a donor-advised fund.
Huang isn't the only executive capitalizing on the AI boom. During the third quarter, his share sales were exceeded by Arista Networks Inc. CEO Jayshree Ullal, who sold $861 million in stock, ranking just behind Amazon.com Inc. Chairman Jeff Bezos among top insider sellers. Additionally, insiders at CoreWeave Inc. sold more than $1 billion following their IPO lockup.
Nvidia insiders, including Huang, divested nearly $1.5 billion in shares by the third quarter, as reported by Washington Service, a firm tracking insider sales. In 2024, these insiders offloaded more than $2 billion, up from $462 million in 2023.
Although many companies have reaped benefits from the AI wave, Nvidia stands out with a rare feat of wealth generation, counting seven billionaires, including Huang, among its ranks.