Nvidia execs cash out shares as GPU giant skyrockets

Nvidia executives are cashing in on their shares, meaning it isn't just investors that are reaping the rewards of its soaring stock value.The AI boom has seen Nvidia's stock price jump 144 percent so far during 2024 and by 211 percent over the last 12 months. According to investor siteCiting a late May regulatory filing from Nvidia, it says that the company's rock star CEO, Jensen Huang, opted to sell up to 600,000 shares, said to be worth an estimated $650 million.

These moves by Nvidia executives came ahead of a 10-for-1 split in Nvidia stock that took effect after the markets closed in the US last week. MarketWatchthat the value of company shares was down in early trading, and analysts are expecting the split to boost Nvidia's stock in future.It is also possible that Nvidia's execs saw an opportunity to cash in while the company's share price is riding at record highs.

Meanwhile, AMD shares were down in early trading today after Morgan Stanley downgraded the company because it thinks investor expectations for its AI business are too high.

Source: Tech Daily Report (techdailyreport.net)

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