Nvidia board members cash in on shares of $2 trillion AI company after prices rise 27%

Nvidia board members cashed out their shares in the technology company in recent weeks. GT

Board members at Nvidia — the AI ​​company that no one can stop talking about and that is at the forefront of technological development — are reaping the benefits of the company's stock surge. The company's shares were trading at $887 today, up 26.5% this month alone.

Four insiders sold their holdings through multiple transactions in the past four weeks, SEC filings show. They join a growing list of executives who have unloaded billions in company stock in recent months. JPMorgan Chase CEO Jamie Dimon recorded his first-ever stock sale last month worth $150 million, while Amazon founder Jeff Bezos sold $8.5 billion of Amazon stock. Meta Platforms founder Mark Zuckerberg sold for $1.2 billion, and private equity founder Leon Black made his first-ever sale for $172.8 million.

On Nvidia's board of directors, Tench Coxe, former managing director at venture capital investment firm Sutter Hill Ventures, Sold $170 million worth of company stock in three transactions yesterday. As a director, Cox receives $255,000 in restricted stock annually and $85,000 in cash. Cox has been a member of Nvidia's board of directors since 1993.

Likewise, Board Member Mark Stevens It was discharged 12,000 shares worth $10.2 million were traded this week, after a loss of 15,000 shares last month, worth about $12 million. Stevens is a managing partner at private family office investment firm S-Cubed Capital and was previously a partner at venture capital investment firm Sequoia Capital. Stevens was a director from 1993 to 2006 and returned to the board in 2008. Stevens previously sold 36,000 shares in January when the stock price was about $546 for about $19.7 million.

Another board member, Mark Perry, Sold 15,000 shares for about $11.9 million on February 23, just two days after the company announced its earnings on February 21. Perry has been a director for nearly a decade and is a consultant to nonprofit organizations and the former CEO of the biopharmaceutical company Aerovance.

Harvey Jones, a longtime director who also joined the board in 2003, has split part of his stake in the company for about $53 million. Jones is managing partner of Square Wave Ventures.

Despite their sales, Cox, Jones, Stevens and Perry still have significant stakes in the AI ​​chip developer. Cox owns about 4.1 million shares, Jones owns nearly 1 million shares, Perry owns 152,000 shares, and Stevens owns 4.4 million shares. CEO Jensen Huang owns about 86 million shares in the company, or a 3.5% stake.

Meanwhile, Amazon CEO Andrew Jassy sold 50,000 Amazon shares this week for about $9 million. It was sold as part of a pre-prepared trading plan.