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Nvidia Corp (NASDAQ:NVDA) President and CEO Huang Jen Hsun sold 223,627 shares of common stock between October 8 and October 10, according to a Form 4 filing with the Securities and Exchange Commission. The sale comes as the semiconductor giant, currently valued at $4.47 trillion, continues to demonstrate robust growth with revenue surging 71.55% over the last twelve months. According to InvestingPro analysis, NVDA is currently trading above its Fair Value. The sales, executed under a pre-arranged 10b5-1 trading plan, resulted in total proceeds of approximately $42.8 million.
The shares were sold in multiple transactions at prices ranging from $183.3881 to $195.3234, near the stock’s 52-week high of $195.62. InvestingPro subscribers have access to 22 additional key insights about NVDA’s valuation and growth prospects through the comprehensive Pro Research Report.
Following these transactions, Huang Jen Hsun directly owns 70,558,203 shares of Nvidia common stock. He also indirectly owns: 581,378,470 shares By Trust, 49,489,560 shares By Partnership, 22,280,000 shares By Irrevocable Trust, 50,078,000 shares By Irrevocable Remainder Trust, 29,512,185 shares By Grantor Retained Annuity Trust 1, 29,512,185 shares By Grantor Retained Annuity Trust 2, 10,000,000 shares By Limited Liability Company 1, 10,000,000 shares By Limited Liability Company 2.
In other recent news, Nvidia is under scrutiny as its supplier, Megaspeed, faces an investigation by the U.S. Commerce Department for potential violations of export restrictions to China. This investigation involves Megaspeed’s connections to Chinese technology firms, raising concerns about bypassing U.S. export controls. Meanwhile, Cantor Fitzgerald has raised its price target for Nvidia to $300, maintaining an Overweight rating, following discussions with Nvidia’s executives about their AI infrastructure plans.
In related developments, Hoth Therapeutics has expanded its AI initiative by acquiring an NVIDIA AI Enterprise subscription license, enhancing its capabilities in drug development and predictive analytics. PubMatic has reported significant improvements in ad processing speed through its collaboration with Nvidia, achieving a fivefold increase in processing speed and reducing auction timeouts by 85%. Additionally, IREN Limited has signed new cloud services contracts for Nvidia Blackwell GPU deployments, securing a substantial portion of its GPU capacity for AI Cloud services. These contracts are expected to contribute significantly to IREN’s annualized run-rate revenue.
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