Nvidia director files to sell $1.09 billion in stock as shares keep climbing

Nvidia board member Mark Stevens filed to sell 5 million Class A shares worth roughly $1.09 billion, according to a Form 144 notice that reached the US Securities and Exchange Commission on Sept. 2, BeInCrypto reports.

• The filing names Merrill Lynch as the broker and Nasdaq as the venue; Stevens holds the shares through the 3rd Millennium Trust and the 970 Foundation
• He has sold stock in four separate blocks since June: 500,000 shares for $109.9 million on June 4, 885,000 shares for $186 million two weeks later, 585,000 shares for $128.9 million on Aug. 31, and 63,501 shares for $14 million on Sept. 1
• Those disposals put his total sales since June near $1.5 billion, before counting the newly filed 5 million shares
• Nvidia closed at $224.41 on Wednesday, up 3.21% on the day and 13.5% over the past month; shares added another 0.56% overnight to $225.63

A Form 144 is a notice of intent; the sale itself may never happen. Directors sell under prearranged trading plans, so the full 5 million shares may never reach the market. Insider sales rarely move a company of Nvidia's size on their own. What sets this notice apart is its size and its position at the end of a steady run of disposals. Skeptics of Nvidia's stock get a fresh talking point regardless, even if the trust never fills the order.

Nvidia shares kept climbing after the filing. Investors are watching a Hugging Face acquisition worth $12.9 billion that Fortune reported and neither company has confirmed. Business Insider reported the two sides had not yet signed an agreement as of late August. Attention is also on last month's growth forecast of 70% sales growth. The two companies cooperate through an open AI security alliance, and Hugging Face turned down a $500 million Nvidia investment back in 2025 over concerns about relying on one dominant backer, which makes a full acquisition a bigger reversal than the headline number suggests. Crypto traders track Nvidia's results too, since AI tokens have repeatedly moved in step with the chipmaker's earnings.

The full 5 million shares will either sell or expire unused within days. Until then, the pattern reads as one director trimming a large position on a schedule, while Nvidia's own share price keeps moving in the opposite direction of the selling.

This article is for informational purposes only and does not constitute investment advice.