NVIDIA stocks reach record high, insiders sell off
NVIDIA's stock has jumped over 60% since April, fueled by the rush for AI tech.
That surge got insiders—including CEO Jensen Huang—selling more than $1 billion in shares over the past year, with most of those sales happening just recently.
For Huang, it was his first time selling since last September.
After a 4.3% climb last Wednesday, NVIDIA reclaimed its spot as more valuable than Microsoft and Apple, with a market valuation of around $3.76 trillion.
Analysts at Loop Capital raised their price target to $250 and kept a "buy" rating, pointing to strong earnings ahead even though the stock is trading below its usual price-to-earnings average.
The buzz around NVIDIA highlights just how much excitement there is for AI-driven growth in the market right now.