Huang, the CEO of Nvidia, sells actions for 15 million dollars, the first of which is an 873 million dollar plan

According to a report filed with the U.S. Securities and Exchange Commission, Nvidia CEO Jensen Huang sold 100,000 shares of the company’s stock on Friday and Monday.

At the opening price on Tuesday, the sales are valued at almost $15 million.

Huang plans to sell up to 6 million Nvidia shares by the end of 2025, and this transaction is the first one in that strategy. At Tuesday’s opening price, the March-announced plan would be valued at $873 million.

According to the SEC filing on Monday, the creator of Nvidia still holds over 800 million shares of the company. Huang is ranked 12th on the Bloomberg Billionaires Index with a net worth of approximately $126 billion.

Under a planned arrangement, the 62-year-old CEO also sold almost $700 million worth of Nvidia stock last year.

Since the initial public release of OpenAI’s ChatGPT in December 2022, Nvidia’s stock has increased by more than 800%. The artificial intelligence service was developed and powered by Nvidia’s graphics processing units, or GPUs, which were highlighted by that debut.

The majority of the AI chip market still has a strong demand for the company’s processors, and Nvidia has released two more generations of its AI GPU technology.

Nvidia keeps expanding. Even though the company is dealing with export control concerns that could restrict overseas markets for its AI chips, its stock has increased 9% this year.

According to the company’s May first-quarter results release, the chipmaker’s revenue increased 69% year over year to $44 billion during the quarter.