According to reports from Zhithong Finance, Nvidia's CEO, Huang Renxun, sold 1.3 million shares of company stock in the past week, taking advantage of the opportunity presented by a 155% increase in share price so far this year. According to a filing with the US Securities and Exchange Commission, Huang made a profit of about $169 million from the shares he sold between June 28 and July 2, at prices ranging from $118.98 to $127.66.

As a major driver of the AI revolution, the CPU and GPU manufacturer has thrived due to the enormous demand for chips used to power AI. Nvidia's dominant position in the high-end accelerator market has made it one of the biggest beneficiaries of the AI boom.

Last month, Nvidia's market cap surpassed $3 trillion, putting it in the same league as Apple (AAPL.US) and Microsoft (MSFT.US). Previously, Nvidia's market cap had briefly surpassed that of Microsoft, making it the largest company by market capitalization in the US. But since then, the market has cooled and Nvidia's market cap has fallen to $3.15 trillion, with Microsoft leading the way at $3.42 trillion and Apple in second place at $3.39 trillion.

This is the most shares Huang has sold in a single month and the first time this year he has sold 1.3 million shares of stock. Nvidia's market value surpassed $3 trillion for the first time this month, making it the most valuable company in the world and making the 61-year-old Huang one of the few super-rich with a fortune of more than $100 billion.

Since the beginning of 2020, including sales in June, Huang has cashed out nearly $1.1 billion in stock. Other filings show that he plans to continue selling his holdings in July. Due to the stock's more than 150% rise since the beginning of this year, Huang Renxun's net worth has more than doubled in the past six months to reach $63.7 billion. Huang Renxun is currently ranked 13th on the Bloomberg Billionaires Index with a wealth of $107.7 billion.

Another beneficiary of Nvidia's surging stock price is Huang Renxun's personal foundation. According to the foundation's latest tax filings, it estimates that it has more than $8 billion in assets based on the 69 million shares of stock it held at the end of 2022. So far, most of Huang Renxun's personal donations have gone to a fund advised by donors operated by Charles Schwab.

Huang Renxun is not the only insider selling shares. In the first half of this year, Nvidia's company executives and directors sold more than $700 million worth of shares, a record for any period in history.

According to statistics compiled by Washington Service, NVIDIA executives and board members have sold nearly 770,000 shares of NVIDIA stock worth over $700 million so far this year, excluding the impact of stock splits on June 10. The latest data from Washington Service shows that this is the largest decline in terms of semi-annual benchmarks since the first six months of 2023, when about 848,000 shares were sold.

Despite having many insider sellers, there has been a lack of internal buying power. According to statistics compiled by Washington Service, apart from exercising important options, Nvidia has not had internal personnel buying stocks since Nvidia's CFO Colette Kress bought a large number of stocks in December 2020.