Cryptocurrencies related to artificial intelligence (AI) technology have seen a significant increase in the past week, while Nvidia’s stock market value has lost over $40 billion.
As of May 25th, Fetch.AI (FET), Render Token (RNDR), and Qidian Network (iQIYI) have grown by 7%, 37%, and 7% respectively in the past 40 days. Despite a broader decline in the cryptocurrency market, this growth has occurred, with Bitcoin (BTC) and Ethereum (ETH) losing 7% and 2.5% of their value respectively last week.
Nvidia’s stock price decline coincides with concerns over its CEO, Huang Renxun, and other top executives’ substantial stock sales. Google Finance data shows that Nvidia’s stock price has fallen by 6.68% over the past five trading days.
Since April 13th, Huang has sold stocks worth $7.938 million, according to documents submitted to the U.S. Securities and Exchange Commission (SEC) on May 21st. This activity has attracted the attention of business research companies.
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“Nvidia executives are selling stocks at an unprecedented pace”
Mentioned
Author: Global Markets Investor in an article published on X on March 23rd. Another research company stated that the total value of stocks sold by Nvidia’s executives this year has approached the $1 billion mark.
From the bar chart
They added
that Nvidia insiders have cashed out over $7.96 billion this year.
