Nvidia directors made $80 million in a pitch last week

• Some Nvidia shareholders are cashing in on the company’s continued stock price rise.
• Nvidia directors sold 99,000 shares worth about $80 million last week.
• Last week’s NVIDIA insider sales were the largest in a single month since September.

Some Nvidia shareholders are cashing in on the chip maker’s sustained stock price rise.

Last week, Nvidia’s directors sold 99,000 shares worth about $80 million, according to the Santa Clara-based company’s Form 4 filing with the U.S. Securities and Exchange Commission.

The stock disposal by Nvidia’s directors comes days after Nvidia’s fourth-quarter profit beat, sending the stock to a record high.

Nvidia’s insider sales last week were the largest in a month since September, when 237,500 shares were sold, Bloomberg reported, citing data from Washington Service, an insider trading information service. Ta.

Nvidia stock closed 1.3% lower at $776.63 on Wednesday, but is up nearly 60% year-to-date.

The company’s stock price has also soared, rising more than 200% in the past 12 months on the back of demand for artificial intelligence (AI) chips amid a technology boom.

Demand for Nvidia’s chips is so high that the company’s co-founder and CEO Jensen Huang told analysts on a recent earnings call that the company will allocate its chips “fairly.” I have no choice but to assure you that I am.

Nvidia’s stock price soars yellow One of the richest people in the world.

Mr. Hwang, with a fortune of $69.3 billion as of Wednesday, was the 20th richest person in the world, according to the Bloomberg Millionaires Index.