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Board members at Nvidia\u2014 the AI company no one can stop talking about that is at the forefront of the tech evolution\u2014are reaping the benefits of a runup in the company\u2019s stock. Shares in the company traded at $887 today, up 26.5% this month alone.<\/p>\n
Four insiders sold holdings via multiple transactions in the past four weeks, SEC filings show. They joined a growing list<\/a> of executives who have unloaded billions in company stock in recent months. JPMorgan Chase CEO Jamie Dimon logged his first-ever stock sale last month to the tune of $150 million, while Amazon founder Jeff Bezos sold $8.5 billion in Amazon stock. Meta Platforms founder Mark Zuckerberg sold $1.2 billion and private equity founder Leon Black made his first-ever sale worth $172.8 million.<\/p>\n On the Nvidia board, Tench Coxe, former managing director at venture capital investment firm Sutter Hill Ventures, sold<\/a> $170 million in company stock in three transactions yesterday. As a director, Coxe earns restricted stock valued at $255,000 annually and $85,000 in cash. Coxe has been an Nvidia board member since 1993.<\/p>\n Similarly, board member Mark Stevens offloaded<\/a> 12,000 shares of stock worth $10.2 million this week after shedding 15,000 shares last month, worth about $12 million. Stevens is managing partner at private family office investment firm S-Cubed Capital and was previously a partner at VC investment company Sequoia Capital. Stevens was a director from 1993 to 2006 and rejoined the board in 2008. Stevens previously sold 36,000 shares in January when the stock was about $546 for about $19.7 million.<\/p>\n Another board member, Mark Perry, sold<\/a> 15,000 shares for about $11.9 million on Feb. 23, just two days after the company reported earnings on Feb. 21. Perry has been a director for nearly a decade and is a consultant for nonprofits and former CEO at biopharmaceutical company Aerovance.<\/p>\n Harvey Jones, a longtime director who also joined the board in 2003, carved off a portion of his stake in the company for about $53 million. Jones is managing partner of Square Wave Ventures.<\/p>\n Despite their sales, Coxe, Jones, Stevens and Perry still have significant stakes in the AI chip developer. Coxe holds around 4.1 million shares, Jones holds nearly a million shares, Perry holds 152,000 and Stevens holds 4.4 million shares. CEO Jensen Huang holds about 86 million shares in the company, a 3.5% stake.<\/p>\n Meanwhile, Amazon CEO Andrew Jassy sold 50,000 shares in Amazon this week for about $9 million. His sale was made as part of a trading plan set up in advance.<\/p>\n<\/div>\nSubscribe to the Eye on AI newsletter to stay abreast of how AI is shaping the future of business. Sign up<\/a> for free.<\/div>\n<\/div>\n