Nvidia CEO Huang sells $15 million worth of stock, first sale of $873 million plan

Jensen Huang, CEO of Nvidia, has recently executed the sale of 100,000 shares of the company's stock, amounting to nearly $15 million based on Tuesday's opening share price. This move marks the initial transaction in Huang's broader strategy to divest up to 600,000 shares by the end of 2025, a plan that was first revealed in March and is projected to be valued at $873 million at current prices. Despite this sale, Huang retains a substantial stake in Nvidia, holding over 800 million shares, according to a filing with the Securities and Exchange Commission (SEC) made on Monday. With a net worth estimated at approximately $126 billion, Huang is positioned as the 12th wealthiest individual on the Bloomberg Billionaires Index. This isn’t Huang's first major sale; last year, he liquidated around $700 million in Nvidia shares under a pre-arranged selling plan. The company has experienced remarkable growth, with its stock surging over 800% since the public release of OpenAI's ChatGPT in December 2022, which significantly highlighted the demand for Nvidia's graphics processing units essential for AI development. In addition, Nvidia has unveiled two new generations of its AI GPU technology, solidifying its dominance in the AI chip market. The company reported a staggering 69% year-over-year revenue increase in its first-quarter earnings, hitting $44 billion, despite facing challenges like export control issues that might restrict access to international markets for its AI chips. Nvidia's stock has also seen a 9% rise this year, showcasing its resilience in a fluctuating market.