On Monday, August 5th, amidst a sharp decline in European and American stock markets led by technology and AI stocks, the latest news indicates that Jensen Huang, the co-founder and CEO of NVIDIA, the &#34;darling of AI&#34; and a leading chip stock, set a new record by selling $323 million worth of company stock in July.
According to Wall Street News, in June, Jensen Huang had previously sold nearly $170 million worth of NVIDIA stock, setting a personal record for the highest monthly cash-out. In other words, before the sharp drop in August, Jensen Huang had sold approximately $500 million worth of NVIDIA stock in June and July combined.
NVIDIA's stock price hit a historic closing high of $135.58 on June 18th, then fluctuated before reaching a second-highest record of nearly $135 on July 10th. Since then, the stock price has been on a downward trend, currently down by 26% from the July 10th closing.
On Monday, NVIDIA led the decline in AI stocks at the opening bell, dropping 15.5% and falling below $91, then halving the decline to 7% and attempting to stabilize above $100 per share. It has been on a three-day decline to the lowest point in two and a half months, nearly halving from the 52-week high, entering a technical bear market.
Bloomberg's Billionaires Index shows that Jensen Huang, 61, briefly surpassed $100 billion in personal net worth in July, but has now dropped to $88.8 billion. In the first two trading days of August, NVIDIA's stock price fell by 8.3%, reducing his net worth by $8.5 billion, and on Monday, it further decreased by $4.8 billion.
In July, there were 8 instances of the largest market value drops in US stocks, half of which were attributed to NVIDIA. On July 31st, NVIDIA surged nearly 13% in a single day, increasing the company's market value by a record $329 billion and adding nearly $12 billion to Jensen Huang's wealth. In other words, Jensen Huang's fortune in the first three trading days of August has essentially erased the one-day surge at the end of July.
Jensen Huang was not the only insider executive to cash out company stock in July. Regulatory filings show that Tesla director Mark Stevens sold approximately $125 million worth of stock that month, and Jay Puri, Tesla's Executive Vice President of Global Field Operations, sold around $10 million worth of stock.
Since the beginning of this year, NVIDIA insiders have collectively cashed out over $1 billion worth of stock. Jensen Huang's selling plan was disclosed in March, and including the latest sales data in July, he has cashed out approximately $1.4 billion since the beginning of 2020. He plans to continue reducing his NVIDIA stock holdings in August, selling a total of 5.28 million shares from July this year until March next year

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Following the reduction rules adopted in March, in July, Jensen Huang sold $323 million worth of NVIDIA shares, breaking his personal record set in June of cashing out nearly $170 million. Some analysts believe that Huang's timing of cashing out was just right before NVIDIA's sharp drop in August, hitting the "last rise" of chip stocks. NVIDIA fell more than 15% on Monday morning and is deeply mired in a bear market

- Amid a significant drop in the European and American stock markets led by tech and AI stocks on August 5th, NVIDIA's co-founder and CEO, Jensen Huang, set a record by selling $323 million worth of company stock in July.
- Huang had previously sold nearly $170 million worth of NVIDIA stock in June, totaling around $500 million in sales between June and July before the August market decline.
- NVIDIA's stock price hit an all-time high on June 18th at $135.58, dropped, and then rose to near $135 on July 10th before plummeting by 26% from that point, entering a technical bear market.

In July, selling NVIDIA for over $320 million! Jensen Huang has set a new record for cashing out for two consecutive months