Nvidia’s chief executive Jensen Huang finished selling millions of shares in the company, worth more than $700 million, according to a regulatory filing Tuesday, sending the chip maker’s stock into the green.
The chip maker's chief executive revealed plans to sell millions of shares in the firm in an earlier ... [+]
Shares of Nvidia increased by 4% to over $121 as of around 3:50 p.m. EDT, increasing its market cap to roughly $2.97 trillion.
Nvidia last had a valuation above $3 trillion on Aug. 28, when shares dipped by over 6%.
Nvidia disclosed in a Securities and Exchange Commission filing earlier this year that Huang, 61, planned to sell up to 6 million shares through March 31, 2025—a threshold that Huang reached nearly six months early on Sept. 12, according to a new filing.
Huang sold about $713 million worth of Nvidia shares between June 14 and Sept. 12 at share prices as low as $91.72 and as high as $140.24.
Huang now holds 75.4 million shares and another 786 million shares through various trusts and a partnership after those sales, he disclosed in another regulatory filing, and he is Nvidia’s largest shareholder with a roughly 3.8% stake as of March.
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Huang is the 13th-richest person in the world with a net worth of $106 billion after it increased by about $4.2 billion Tuesday, according to our latest estimates. He’s added about $102 billion to his fortune since 2019, when was ranked the 546th-richest, and about $85 billion since last year.
Huang, Nvidia’s chief executive and president since co-founding the chip maker in 1993, has benefited from a surge in the company’s stock in recent years. Nvidia briefly became the world’s most valuable company in June after jumping to a market cap of $3.33 trillion, surpassing Apple and Microsoft as the firm rode a rising demand for artificial intelligence. Earlier this month, Nvidia lost about $280 billion in market value after shares dropped by 8% amid a larger tech selloff, though the company later rallied after the Federal Reserve cut interest rates by 0.5 percentage points.