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Wall St. Bolt > Blog > Stock Market News > NVIDIA Insider: CEO Huang Sells $713M Worth of Shares
Stock Market News

NVIDIA Insider: CEO Huang Sells $713M Worth of Shares

Wall St. Bolt Editorial Team
Last updated: 2024/10/06 at 3:19 AM
Wall St. Bolt Editorial Team 8 months ago
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NVIDIA Corporation (NASDAQ:NVDA) is experiencing notable developments as insiders, including CEO Jensen Huang, have sold over $1.8 billion in stock throughout 2024. Huang’s sales, totaling around $713 million, were made through a structured trading plan.

This activity occurs against a backdrop of concerns about delays in the production of the Blackwell chips, which are crucial for NVIDIA Corporation (NASDAQ:NVDA)’s offerings in the rapidly evolving AI sector. Despite these sales and concerns, NVIDIA’s stock has risen 179% in the past year, highlighting strong market demand.

The company is also advancing in applying spatial AI in autonomous driving and warehouse automation, alongside recent launches in AI-driven gaming technology.

NVIDIA Insider: CEO Huang Sells $713M Worth of Shares

NVIDIA Q2 2024 Earnings: Revenues Hit $30 Billion with 15% Growth

The company represents a strong investment opportunity, supported by impressive financial performance and its leadership in the semiconductor industry, particularly in emerging technologies.

In its Q2 2024 earnings report, NVIDIA reported revenues of $30 billion, marking a remarkable 15% increase from the previous year. Its net income surged to $7.4 billion, surpassing analysts’ expectations, largely due to robust demand for its graphics processing units (GPUs) used in artificial intelligence (AI) and data center applications.

A key factor behind NVIDIA Corporation (NASDAQ:NVDA)’s positive outlook is its strong position in the AI and machine learning markets. As demand for AI technologies grows, the company’s GPUs are crucial for powering advanced applications, positioning NVIDIA to benefit as more businesses adopt AI solutions.

Furthermore, NVIDIA Corporation (NASDAQ:NVDA)’s data center segment is experiencing significant growth, with revenues reaching $9.5 billion in Q2 2024. This growth is fueled by the increasing reliance on AI and cloud computing as organizations transition to these services, allowing NVIDIA Corporation (NASDAQ:NVDA) to capture a substantial share of the expanding market.

Additionally, NVIDIA Corporation (NASDAQ:NVDA)’s solid financial foundation enables continuous investment in research and development, keeping it at the forefront of innovation. With strong cash flow, the company is also well-positioned to pursue strategic acquisitions and partnerships that will further accelerate its growth trajectory.

Read also: Eli Lilly to Invest $4.5 Billion in New Medicine Foundry and U.S. Economy at Risk from Middle East Tensions

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TAGGED: NVIDIA Corporation (NASDAQ:NVDA)
Wall St. Bolt Editorial Team October 6, 2024
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Posted by Wall St. Bolt Editorial Team
The Wall St. Bolt Editorial Team consists of experienced market analysts and financial writers who are passionate about delivering timely, accurate, and insightful financial news. With backgrounds in economics, journalism, and market research, the team works collectively to provide expert coverage of global markets.
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