NVIDIA Corporation (NASDAQ: NVDA) stock fell during early trading Friday after Chief Executive Jensen Huang announced plans to sell some shares.
Nvidia CEO Jensen Huang is set to offload up to $735 million worth of NVDA stock, following a plan he adopted in March. The company filed a regulatory disclosure with the Securities and Exchange Commission, revealing Huang’s intention to sell 600,000 shares by March 2025. This move comes as Nvidia’s market capitalization reached a remarkable milestone, surpassing $3 trillion and exceeding that of tech giant Apple (AAPL).
Meanwhile, Hewlett Packard Enterprise (HPE) reported strong demand for its AI servers, which utilize Nvidia’s H100 chips. Antonio Neri, CEO of HPE, highlighted Nvidia’s leadership in generative AI and noted demand for its servers from enterprise customers, sovereign states, and hyperscale operations.
Nvidia’s Future Plans and Collaborations
In another development, Nvidia announced plans to launch its most advanced artificial intelligence platform by 2026. This platform will incorporate next-generation memory to enhance processing times.
Moreover, Foxconn recently revealed its plan to build an advanced computing center in Taiwan using Nvidia’s Blackwell chips. Nvidia had previously partnered with Foxconn to build data centers, aiming to enter the autonomous driving and electric vehicles (EVs) market. Tesla, a prominent player in the EV industry, currently employs Nvidia’s chips in its vehicles. However, Tesla plans to custom-build its chips in the future.
Nvidia stock recently hit a significant milestone, soaring above the 1,100 level for the first time. This surge followed Tesla CEO Elon Musk’s indication that Nvidia would supply chips for his AI startup, xAI. The startup recently raised $6 billion in funding and announced plans to build a supercomputer to support its AI chatbot.
Adding to its recent achievements, Nvidia announced a 10-for-1 stock split effective this Friday. This move will lower the price of one share to just over $100, potentially making Nvidia a candidate for inclusion in Dow 30, a price-weighted index. Similar stock splits have previously led to Apple (NASDAQ: AAPL) and Amazon.com (NASDAQ: AMZN) joining the Dow.
NVIDIA Corporation (NASDAQ: NVDA) Stock Price Action
As of 10:35 a.m. (Eastern Time) Friday, NVDA stock traded at $1190, marking a 1.59% decrease compared to the previous trading session.
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