NVIDIA shares sell off by over $1 billion

 

NVIDIA CEO Jensen Huang

NVIDIA shares sell off by over $1 billion

Major shareholders and executives in chipmaker Nvidia have sold more than $1 billion worth of shares over the past year, amid a recent surge in trading activity.

This comes as executives are capitalizing on growing investor interest in artificial intelligence, the Financial Times reported Sunday.

The newspaper reported that more than $500 million in stock sales took place this month, as the California-based chip designer's stock price hit an all-time high.

A Securities and Exchange Commission filing revealed that Nvidia CEO Jensen Huang initiated a stock sale a few days ago for the first time since September.

Nvidia's stock hit a record high on Wednesday. It reclaimed the title of the world's most valuable company after an analyst said the chipmaker was well-positioned to ride the "golden wave" of artificial intelligence.

The chipmaker's new gains reflect the return of the US stock market to the "artificial intelligence trade," which has fueled massive gains in chip and related technology stocks over the past few years, fueled by optimism about emerging technology.

NVIDIA shares have rebounded, rising more than 60% from their April 4 closing low, when Wall Street plunged under the weight of President Donald Trump's decision to impose global tariffs.

US stocks, including NVIDIA, have recovered amid expectations that the White House will reach trade agreements to reduce tariffs.