Citing a late May regulatory filing from Nvidia, it says that the company’s rock star CEO, Jensen Huang, opted to sell up to 600,000 shares, said to be worth an estimated $650 million.
He isn’t the only one. CFO Colette Kress, EVP of operations Debora Shoquist, and EVP of worldwide field operations Ajay Puri are likewise selling off some of Nvidia’s stock.
We’ve had the pump, time now for the dump.
While do think “AI”-based services do have value (one simple example is video/image upscaling, it really does work like in Bladerunner), the current hype-driven cycle is clearly a bubble.
Massive hardware capex costs, I bet opex costs are also ridiculous and no clear path towards large scale monetization. They are definitely in the “corner the market” stage of enshitification, but it’s not clear which use cases can be justified from a profitability standpoint.