From CNBC: 2024-09-24 14:16:14

Nvidia CEO Jensen Huang has ceased selling the chipmaker’s stock for now after cashing in over $700 million under a predetermined plan. Huang, 61, completed sales of 6 million shares ahead of schedule, boosting Nvidia’s stock by over 4%. The company saw a market cap of over $3 trillion this year, influenced by its AI dominance.

Following the completion of preplanned sales, Huang holds 75.4 million Nvidia shares and 786 million shares through trusts and partnerships. Nvidia’s processors power generative AI like OpenAI’s ChatGPT, with major customers including Microsoft, Meta, Alphabet, Amazon, and Oracle. Huang is listed as the company’s largest individual shareholder.

Read more: Nvidia shares pop as CEO may be done selling shares after hitting preset plan limit