NVDA Edges Down Overnight After 6-Day Winning Streak — Director Mark Stevens Sells Another $300M In Stock

• Nvidia reported 106% revenue growth in its latest quarter, led by a 117% jump in data-center sales.
• Jensen Huang has said AI demand is accelerating as frontier labs and startups scale their systems.
• Post the sale, Stevens holds more than 26 million Nvidia shares directly and through trusts.

Nvidia Corp. director Mark Stevens sold another 1.4 million shares worth about $300 million in transactions on Sept. 18, according to a new Form 4 filing on Tuesday, extending a pattern of large insider sales at the chipmaker.

Nvidia shares dipped 0.2% in overnight trading late Tuesday. Shares have closed in the green for six straight sessions, gaining 8.6% over this period.

Stevens Continues Selling Nvidia Stock

Stevens, a former Sequoia Capital managing partner, sold the latest lot at a weighted average price of $219.72, with another 10,000 shares at $220.42. The shares were held through trusts. Importantly, the filing does not indicate that the transactions were made under a Rule 10b5-1 trading plan. 

The latest sales follow Stevens's sale of roughly $640 million of Nvidia stock earlier this month. He has also been routinely selling Nvidia shares throughout 2026, including an $186 million sale in June.  

Stevens remains a substantial shareholder, with the latest filing showing 11.54 million shares held directly and another 15.02 million indirectly through the Envy Trust.

Nvidia Stock Has Been Choppy

Nvidia shares have moved largely sideways over the past few months after a powerful AI-driven rally, with investors increasingly weighing extraordinary growth against lofty expectations, rising competition and concerns about the sustainability of AI infrastructure spending.

The muted stock performance has come even as Nvidia continues to deliver blockbuster numbers. Nvidia reported $96.2 billion in fiscal Q2 revenue, up 106%, with data-center revenue jumping 117% to $89 billion. The company also projected roughly 70% revenue growth for fiscal 2028.

CEO Jensen Huang said in the Aug. 24 earnings report that AI has reached an “inflection point,” with demand accelerating as more frontier labs, startups and open-model developers scale their systems.

Retail View On NVDA

On Stocktwits, retail sentiment for NVDA was ‘neutral,’ unchanged over the week, with traders looking ahead to the Washington summit involving Chinese President Xi Jinping, U.S. President Donald Trump and several business and tech leaders. 

“$NVDA The summit between Trump and China’s Xi Jinping will bring together a robust group of US corporate leaders, but there will not be a comparable delegation of Chinese executives, raising questions about the prospects for striking new deals,” said a trader.

NVDA stock has risen 23% year to date, trailing the nearly 90% gains in the iShares Semiconductor ETF (SOXX).

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