Caixin Online reports on August 13, summer of this year, billionaire entrepreneur and CEO Huang Renxun has been selling Nvidia's shares every trading day. According to the latest filings of the US Securities and Exchange Commission (SEC), Huang Renxun sold a total of 0.24 million shares of Nvidia on August 8 and 9, realizing $24.91 million in cash. The documents show that in August, Huang Renxun sold every trading day until last week, and it was very regular. From August 1 to August 9, he sold 0.12 million shares of Nvidia shares every trading day, realizing a total of $86,765,200. $NVIDIA (NVDA.US)$ Please use your Futubull account to access the feature.

According to the latest SEC filings, Huang Renxun sold a total of 0.24 million shares of Nvidia on August 8 and 9, realizing $24.91 million in cash.

The document shows that in August, Huang Renxun sold every trading day until last week, and it was very regular. From August 1 to August 9, he sold 0.12 million shares of Nvidia shares every trading day, realizing a total of $86,765,200.

Sell high

In recent years, AI technology has been driving the stock to new heights. Its stock price reached its peak in June of this year and reached its second-highest level in July. So in June, Huang Renxun sold $0.169 billion worth of Nvidia shares, and then sold a record-breaking $0.3227 billion in July.

In fact, in the “10b5-1” trading plan submitted in March, Huang Renxun had already disclosed his stock selling decision in June-August.

This "10b5-1 plan" is a rule that SEC issued in October 2000 under the Securities Exchange Act of 1934. It allows insiders of companies to establish trading plans in advance and make advance plans for the sale and purchase of stocks, and strictly implement the trading plan to prove that they did not use insider information in the transaction. If they face insider trading charges in the future, they can actively defend themselves with this rule.

Coincidentally, the bulk of Huang Renxun's liquidation came just before the larger range of technology stock selling.

This month, global stock markets are experiencing a substantial shock, and investors are facing a perfect storm brought by multiple bearish factors such as unexpected weakness in economic data, poor corporate profits, and poor seasonal trends.

With the decline of the overall market, Nvidia experienced a few days of plunging last week. Although it later recovered some of its decline, it still fell nearly 7% from the beginning of the month to today. Fortunately, due to its strong performance this year, Nvidia's cumulative increase since the beginning of the year is as high as 126.32%.

As of the close of Monday (August 12), Nvidia's stock price rose 4.08% to $109.02 per share.

Along with the external shocks of this round, investors are also beginning to consider whether Nvidia itself has some risk factors, such as some customers looking for cheaper alternative solutions, and whether the AI theme that pushed Nvidia up has been over-invested.

Elliott Management, a well-known hedge fund, has pointed out that Nvidia is in a bubble. In addition, Goldman Sachs' research director mentioned last month that AI is indeed a bubble, and current investments seem to have exceeded the scope of actual returns, which may be a more serious situation than the internet bubble in 2000.

Huang Renxun is not the only Nvidia executive selling stocks. According to documents, in July, Nvidia board member Mark Stevens sold shares worth about $0.125 billion; Jay Puri, global business operations executive vice president, sold shares worth about $10 million.

Editor/Somer