Nvidia's Mark Stevens Sells $646M Worth of Shares, Stock Takes a Hit

Nvidia's stock took a hit overnight as longtime director and major shareholder Mark Stevens sold roughly 2.87 million shares worth about $646.5 million.

The sales occurred between Aug. 31 and Sept. 4, with individual transactions happening at prices ranging from approximately $220 to $234 per share.

Despite the significant sale, Stevens still owns a substantial stake in Nvidia, holding over 11.5 million shares directly and another 15 million through the Envy Trust.

Nvidia is facing challenges in securing probe card and test socket capacity due to high demand for AI chip testing, which is putting pressure on supplies for R&D and engineering testing at wafer foundries.