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Nvidia bosses flog €193 million in shares

by on07 March 2024

Is more growth expected?

Two Nvidia directors flogged about €193 million in shares of the chipmaker in recent days, becoming the latest insiders to cash in as the stock keeps smashing records.

Tench Coxe, a former boss at venture capital firm Sutter Hill Ventures who has been on Nvidia’s board since 1993, sold 200,000 shares on March 5 at €916.34 to €918.83, according to a filing. Coxe still holds more than 3.7 million shares.

The sales come amid a scorching rally for Nvidia that’s seen the stock soar 79 per cent this year on optimism that brisk sales of its chips used for artificial intelligence computing will carry on. Nvidia closed at another record on Wednesday as it stretched its win streak to a fifth day, and now boasts a market value of €2.34 trillion, trailing only Microsoft in the S&P 500 Index.

Last month, other directors dumped 99,000 shares after Nvidia’s knockout earnings report. The shares sold were worth about €86.1 million at the time. Shares in the chipmaker were up 1.2 per cent in premarket trading on Thursday.


Last modified on 07 March 2024
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