Nvidia director sold nearly $1B in stock weeks before the Jensen Huang scandal

Nvidia director Mark Stevens sold about 4.2 million shares for roughly $946 million in three transactions during the third quarter of 2026. The sales took place Aug. 31-Sept. 2 at $220-$226 a share, Sept. 3-4 at $227-$234, and Sept. 18 at about $220. The first two transactions followed a strong quarterly earnings report after which Nvidia shares gained around 10%. Filings did not show that Stevens used a prearranged trading plan. Such plans can help executives avoid insider-trading concerns by setting sales in advance, but their absence does not by itself indicate improper conduct; executives may sell for reasons such as raising cash. Stevens retained about 27.5 million shares.

The sales drew attention because they preceded CEO Jensen Huang’s Nov. 12 resignation amid reports of alleged personal relationships, including one involving Nvidia executive Kimberly Powell and an earlier allegation concerning a woman described as a Chinese intelligence operative. Nvidia’s board named finance chief Colette Kress interim CEO and said operations, customer commitments, and the product roadmap would continue uninterrupted. By Nov. 13, Nvidia shares were around $163, following a reported decline of about 15% over several days; the company had lost roughly $1.7 trillion in market value since the beginning of October. The account connects Stevens’s sales to the timing of Nvidia’s turmoil while emphasizing that the transactions alone do not establish a link to the later scandal.