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Nvidia’s stock has been on a hot streak this year, and its chief executive just unloaded shares worth more than he’s ever made in a single month.
The chipmaker’s chief executive Jensen Huang sold 1.3 million shares worth almost $169 million in his first sale of the year in June, Bloomberg reported, adding that the sales were done under a 10b5-1 trading plan the company adopted in March.
Other Nvidia executives and directors have reportedly sold about 770,000 shares of the company worth more than $700 million so far this year, not counting its 10-for-1 stock split which went into effect on June 10. The company’s stock has risen around 165% this year, meaning the value of the shares far surpasses previous periods, including the first six months of 2023, when insiders sold about 848,000 shares, according to Bloomberg.
Demand for Nvidia’s artificial intelligence chips has propelled the company’s stock and valuation this year. In June, the company’s market cap crossed the $3 trillion threshold, and Nvidia quickly surpassed both Apple and Microsoft to become the most valuable public company in the world. However, its stock slipped at the end of the month, sending shares of other chipmakers around the world down with it. Nvidia lost over $500 billion in market value over three trading days before rebounding.
Nvidia became the first semiconductor company to reach a $2 trillion valuation in February after it reported record fourth-quarter earnings. In May, Nvidia beat Wall Street’s expectations again, reporting record first-quarter revenue of $26 billion for fiscal year 2025 — up 262% from the previous year. After its first-quarter earnings report, Nvidia’s stock price opened above $1,000, but it has since initiated the 10-for-1 stock split.