Cryptocurrencies related to artificial intelligence (AI) technology have seen a significant surge in the past week, while Nvidia’s stock market value has dropped by over 40 billion US dollars.
As of May 25, Fetch.AI (FET), Render Token (RNDR), and IQIYI Network (愛奇藝) have each 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 large-scale stock sales by its CEO Jensen Huang and other top executives. Google financial data shows that Nvidia’s stock price has dropped by 6.68% over the past five trading days.
Since March 13, documents submitted to the U.S. Securities and Exchange Commission (SEC) show that Huang sold Nvidia stock worth 79.38 million US dollars on March 21. This activity has attracted the attention of business research firms.
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According to Google’s data, the three most popular altcoins currently
“Nvidia executives are selling stocks at an unprecedented pace”
mentioned
Author: Global Markets Investor in an article published on X on March 23. Another research firm indicated that the total value of Nvidia stocks sold by the company’s executives this year has almost reached the 3 billion US dollar mark.
From bar chart
They added that
Nvidia insiders have cashed out over 7.96 billion US dollars this year.
