Nvidia director files to sell $1.09B in Class A shares

Nvidia board member Mark Stevens filed a Form 144 with the SEC on Sept. 2 notifying regulators of his intent to sell up to 5 million Class A shares, valued at roughly $1.09 billion. The filing names Merrill Lynch as the broker and Nasdaq as the trading venue.

Stevens holds the shares through the 3rd Millennium Trust and the 970 Foundation. He has sold multiple blocks of Nvidia stock this year. Transactions disclosed this year include 500,000 shares sold for about $109.9 million on June 4; 885,000 shares that raised about $186 million two weeks later; 585,000 shares for roughly $128.9 million on Aug. 31; and 63,501 shares for about $14 million on Sept. 1. Those four sales together raised about $438.8 million since June; Stevens has completed other disposals earlier in the year as well.

A Form 144 notifies the SEC of an insider’s intent to sell restricted or control securities and does not by itself confirm that the shares have been or will be sold. Whether the full block of 5 million shares reaches the market will depend on whether the trust completes the transactions after the filing.

Nvidia shares closed at $224.41 on Wednesday, up 3.21% from the prior session, and traded at $225.63 in early overnight trading, a further 0.56% rise. The stock has gained about 13.5% over the past month.

There are reports of a possible offer valued at about $12.9 billion for Hugging Face, a company that hosts open-source AI models and datasets; neither company has confirmed any agreement. The two firms already cooperate in an AI security partnership. Hugging Face declined a $500 million investment from Nvidia in 2025, citing concerns about concentration of a single strategic backer.

Insider filings are tracked by investors and traders for timing and size. Confirmation of completed trades from Stevens’ filing should become clearer in the days after the notice as market filings and transaction records are updated.