Jensen Huang, the CEO of NVIDIA, sold his own shares worth over $322.7 million in July, marking a historic moment for him. This sale brings his total shares sold to nearly $500 million in recent times.
The sale was part of a pre-planned trading strategy set in March but seems well-timed as it coincides with the adjustment of tech stocks in late July due to the weak US economy and lower-than-expected performance of tech companies.
NVIDIA shares also dropped by approximately 20% in the same month as investors grew concerned about the lackluster returns on heavy investments in AI by tech companies. This could potentially impact NVIDIA’s sales.
Reference: Markets Insider
Image Source: NVIDIA
TLDR: NVIDIA CEO sells over $322.7 million worth of shares in a historic move amidst concerns over tech stock performance and AI investments.
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