NVIDIA director Mark Stevens sold approximately 1.85 million ordinary shares worth $410.8 million through the Third Millennium Trust, a vehicle co-administered with his wife, over three consecutive trading sessions ending September 2, 2026.
The transactions occurred at share prices ranging from $220.0589 to $226.2704, according to regulatory filings. At the time of sale, NVIDIA’s stock was trading at $227.93, down from its 52-week high of $236.54 reached earlier in the year. Stevens retained substantial holdings, including 11.54 million direct shares, 3.36 million via the Third Millennium Trust, and 15.02 million through the Envy Trust where he serves as trustee.
Analysts maintained bullish outlooks despite the insider sale. JPMorgan reiterated an Overweight rating with a $320 price target, citing projected fiscal 2028 revenue growth of 70% driven by hyperscaler, neocloud, AI lab, sovereign AI, and enterprise demand. Baird also kept an Outperform rating with a $500 target, referencing a $35 billion cloud computing agreement between Anthropic and Lambda, a deal backed by NVIDIA.
Separately, Hut 8 was reported by the Wall Street Journal to be developing a Texas data center linked to the Anthropic-Lambda arrangement. Ming-Chi Kuo of TF International Securities noted NVIDIA’s reactivation of the Rubin CPX chip program, with production slated to begin in the first quarter of 2027.
