Nvidia’s CEO, Jensen Huang, continues to sell off NVDA stock, causing concern in various circles. Recent sales have amounted to $104 million as the asset experiences a rebound in sentiments. This year, Nvidia has seen a notable increase in value due to the growing excitement surrounding artificial intelligence solutions.
Huang has been executing his stock offloading strategy in line with current market trends. A recent filing revealed that he sold 240,000 NVDA shares for $26.2 million on September 11, mirroring a previous transaction involving the same number of shares on September 9. Although the latter sale amounted to around $25 million.
The total value of Huang’s recent stock transactions has now exceeded $104 million. Historical filings with the Securities and Exchange Commission (SEC) showcase significant sales totaling 5.3 million shares worth approximately $633 million. Despite these sales, Nvidia remains a leader in the market, with optimism growing due to the anticipation surrounding its upcoming Blackwell chips.
The rising demand for artificial intelligence solutions has propelled Nvidia’s stock upward, in line with the surge seen in AI-related assets. The company commands 80% of the global chip manufacturing market cap and is poised for a strong finish to the year. Recent positive developments, such as potential exports to Saudi Arabia, have also contributed to the stock’s upward trajectory.
Looking ahead, some analysts raise concerns that Huang’s stock sales could indicate a bearish signal for the market, especially considering the asset’s significant decline earlier in the month. However, macroeconomic factors and the recent price surge suggest a bullish sentiment may prevail.
Nvidia’s stock has surged 140% this year, buoyed by the increasing influence of AI-related assets in the cryptocurrency space. This week, AI coins experienced a surge after Huang hinted at a new Industrial Revolution driven by industry demand. As a result, NVDA’s price has risen by 13% this week, marking a robust recovery.
The original article, “Nvidia CEO Dumps $104M NVDA Stock, Bearish Outlook Ahead?” can be found on CoinGape’s website.