NVIDIA Corporation (NASDAQ:NVDA) CEO Jensen Huang has completed the sale of millions of shares, totaling over $700 million, according to a regulatory filing. This move boosted NVIDIA Corporation (NASDAQ:NVDA)’s stock by 4%, raising its market cap to about $2.97 trillion, although it previously exceeded $3 trillion in late August.
Huang had planned to sell up to 6 million shares by March 2025 but reached this goal nearly six months early on September 12. Between June 14 and September 12, he sold shares at prices ranging from $91.72 to $140.24, bringing in about $713 million.
After these sales, Huang still holds 75.4 million shares directly and an additional 786 million through trusts and partnerships, maintaining a 3.8% stake in NVIDIA Corporation (NASDAQ:NVDA) as its largest shareholder. His net worth increased to $106 billion on Tuesday, making him the 13th-richest person in the world, up from 546th in 2019.
NVIDIA Corporation (NASDAQ:NVDA) has seen significant stock growth recently, especially with rising demand for artificial intelligence, briefly making it the world’s most valuable company.
However, it recently lost around $280 billion in market value due to an 8% drop in shares during a tech selloff, before recovering after the Federal Reserve cut interest rates by 0.5 percentage points.
NVIDIA Reports Record Q2 Earnings, Strengthening Its Leadership in AI
NVIDIA Corporation (NASDAQ:NVDA) has made major advancements in technology, proving its innovative strength. The company’s strong future prospects are highlighted by its impressive earnings for Q2 2024, which surpassed analyst expectations and showed record revenue growth.
This growth is driven by high demand for its GPUs in data centers and AI applications. As a leader in AI hardware and software, NVIDIA’s GPUs are crucial for training and running AI models, positioning the company well as more industries adopt AI.
NVIDIA Corporation (NASDAQ:NVDA) is also improving its products with new technologies like the Hopper and Grace architectures, which enhance performance for AI and high-performance computing. Strategic partnerships with leading tech firms help NVIDIA Corporation (NASDAQ:NVDA) expand into areas like autonomous vehicles, cloud computing, and gaming.
With increasing investments in AI and machine learning, analysts are raising their price targets for NVIDIA Corporation (NASDAQ:NVDA), indicating a positive outlook for the company’s growth.
Recent announcements about major contracts and advancements in AI technology have further boosted investor confidence, contributing to a strong bullish sentiment for NVIDIA Corporation (NASDAQ:NVDA).
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