Nvidia (NVDA) Stock: Director Dumps $44M While Shares Surge on Micron Earnings Beat

TLDR

• Nvidia shares climbed 1.2% to $172.91 in premarket trading after Micron Technology posted strong quarterly earnings
• Micron CEO warned high-bandwidth memory supply will fall short of demand for the foreseeable future
• Board director Harvey Jones sold 250,000 shares worth $44 million from a stake held since 1997
• Atlas Cloud AI committed $250 million to deploy 2,304 Nvidia Blackwell GPUs in California
• Jones still owns over 7 million Nvidia shares through the H.C. Jones Living Trust

Nvidia shares bounced back Thursday morning following strong earnings from Micron Technology. The stock gained 1.2% to $172.91 in premarket trading.

NVIDIA Corporation, NVDA

The rally comes one day after Nvidia fell 3.8% on concerns about Oracle’s data-center funding. Micron’s results helped calm fears about slowing AI investment.

Memory-chip maker Micron reported increased sales driven by data-center demand. The company highlighted strong performance in high-performance memory products.

Other chip stocks joined the rally. Advanced Micro Devices rose 1.6% while Broadcom gained 1.1% in premarket activity.

Memory Supply Concerns Persist

High-bandwidth memory has become essential for AI processors. Nvidia’s latest chips require these specialized components to function properly.

Micron CEO Sanjay Mehrotra addressed supply issues on the earnings call. He said industry supply will remain well below demand going forward.

The shortage could benefit chip makers like Nvidia. It signals continued strong demand for AI hardware across the sector.

David Morrison from Trade Nation said the Micron news steadied prices for Nvidia, Oracle, and Broadcom. These stocks had suffered recently on AI spending worries.

New AI Infrastructure Investment

Atlas Cloud AI announced plans to deploy Nvidia Blackwell GPUs Wednesday. The startup will install 2,304 units at a California facility.

The $250 million investment involves data-center provider NewYork GreenCloud. It marks the first phase of Atlas Cloud’s broader strategy.

Atlas Cloud has outlined a $6 billion plan for AI computing sites. The company intends to build facilities across North America.

Longtime Director Sells Major Stake

Harvey Jones executed a large stock sale on December 15. The Nvidia board member sold 250,000 shares at $177.33 each.

The transaction totaled more than $44 million according to regulatory filings. Jones has served on Nvidia’s board since 1993.

He acquired the shares in 1997, two years before the company went public. Nvidia completed its IPO in 1999.

Jones maintains a substantial position despite the sale. He holds more than 7 million shares through the H.C. Jones Living Trust.

Nvidia declined to provide details about the sale. The company has not commented on Jones’s transaction.

The chipmaker’s stock has gained 28% this year. Nvidia now carries a market capitalization of approximately $4.32 trillion.

That valuation makes Nvidia the world’s most valuable chipmaker. The company dominates the market for AI training processors.

Nvidia shares reached $173.22 during premarket trading before settling at $172.91. Futures tied to the S&P 500 index rose 0.5% Thursday morning.

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