On June 24th local time, the US stock market closed with Nvidia's stock price falling 6.68%, the largest daily decline in two months, at $118.11 per share, with a market value of $2.91 trillion, lower than Microsoft and Apple. Microsoft's market value was $3.33 trillion, while Apple's market value was $3.19 trillion. This is also a three-day decline in Nvidia's stock price, with a cumulative decline of nearly 13% over the past three days.
On the news, Simona Jankowski, Vice President of Investor Relations and Strategic Financing at Nvidia, has switched jobs and will serve as Chief Financial Officer (CFO) at a startup company. Before joining Nvidia in 2017, Jankowski was also a veteran analyst at Goldman Sachs Group.
On the other hand, Nvidia CEO Huang Renxun and some executives have continued to reduce their holdings in the company's stocks, receiving high attention from the market. According to information disclosed by the US Securities and Exchange Commission (SEC), NVIDIA's CEO has cumulatively reduced his holdings of 720000 NVIDIA shares over a period of 7 trading days from June 13 to 21, with a cash out amount of up to $94.6 million, equivalent to approximately RMB 690 million. However, after this reduction, Huang Renxun held 80.7 million NVIDIA shares in his personal account, and he also controlled a large amount of NVIDIA shares through trusts and other means.
Some market analysts believe that the volatility of Nvidia's stock price is only temporary. It points out that the deployment of artificial intelligence hardware may take a cycle of 3-5 years, and now that it has just entered its second year, Nvidia will still launch the next generation Blackwell chips, and this chip manufacturer is increasingly making money from software.