Nvidia CEO sells $15M worth of stock as part of planned sale

Nvidia CEO Jensen Huang disclosed the sale of 100,000 shares of the company's stock on Friday and Monday, according to filings with the Securities and Exchange Commission (SEC).Huang's stock sales were valued at roughly $15 million, with shares trading in a range of $142.50 to $145.63 during the trading sessions on Friday and Monday.The stock sales are part of a plan that Huang and Nvidia disclosed in their most recent quarterly filing that would allow him to sell up to 6 million shares of the company's stock before the end of 2025.NVIDIA SHARES RISE ON STRONG Q1 EARNINGS, DESPITE EXPORT CONTROL HEADWINDSTrading plans such as what Huang has used, known as a 10b5-1 plan, are used so that executives and investors with large stakes in a given company can disclose potential sales without surprising the market and causing the transactions to be viewed as a shock.Nvidia has boomed over the past few years amid the rise of artificial intelligence (AI), as the company designs cutting-edge AI chips. NVIDIA, DELL PARTNER WITH TRUMP ADMIN TO MAKE NEXT-GEN SUPERCOMPUTERHuang said in a February interview on FOX Business Network's "The Claman Countdown" that adoption of AI is "incredibly fast" among what he described as the "core technology builders, the model builders and the companies that are building consumer-oriented AIs." Earlier this year, Nvidia announced plans to manufacture AI supercomputers in the U.S., with its advanced Blackwell chips to be made in Arizona and AI supercomputers at facilities in Texas. Nvidia's stock is up over 6.5% year to date and nearly 25% over the past year.GET FOX BUSINESS ON THE GO BY CLICKING HEREIn the past five years, Nvidia's stock price has risen over 1,510% as AI technology has been adopted more widely.Weiter zum vollständigen Artikel bei FOX Business Weiter zum vollständigen Artikel bei FOX Business