NVDA - Nvidia Insiders Cash In Over $700M This Year As Jensen Huang $3.2 Trillion Chip Empire Continues To Swell (UPDATED) | Benzinga
Editor's note: This story has been updated with a comment from Nvidia
Insiders at Nvidia Corp. (NASDAQ:NVDA) have reportedly cashed in over $700 million in shares this year, as the company’s stock continues to rally, according to data compiled by Washington Service.
What Happened: As per the data, executives and directors have offloaded around 770,000 Nvidia shares in 2024, excluding the impact of the company's 10-for-1 stock split on June 10, Bloomberg reported on Tuesday. This marks the highest number of shares sold in a half-year period since the first half of 2023 when approximately 848,000 shares were sold.
The value of the shares sold this year significantly surpasses previous periods, given the stock’s 164% gain in 2024. The surge in Nvidia’s stock price is largely attributed to the increasing demand for AI accelerator chips, a market that Nvidia dominates.
Over a third of the shares sold this year by insiders have come since Nvidia's fiscal first-quarter earnings report on ...