NVIDIA CEO, Jensen Huang, Sells Company Shares
Executive Director of NVIDIA, Jensen Huang, sold 225,000 shares of the company over the past week in three separate transactions totaling $36.4 million, according to documents filed with the U.S. Securities and Exchange Commission (SEC).
The transactions involved selling 75,000 shares each on July 8th, 9th, and 10th. Huang has executed ten sales of 75,000 shares since June 25th.
NVIDIA’s stock rose 0.50% on Friday in the Nasdaq, closing at $164.92. Year-to-date, NVIDIA’s shares have gained 28.46%.
Viva Aerobus Reports 6.1% Increase in Passenger Traffic
Viva Aerobus, Mexico’s second-largest low-cost airline, recorded a 6.1% increase in passenger traffic for June, marking the smallest growth since August 2020 when the global aviation industry faced adverse effects from the COVID-19 pandemic.
June’s traffic growth was also the weakest for any sixth month since 2020. Domestic traffic rose by 5.8% compared to June of the previous year, while international traveler numbers using Viva Aerobus services increased by 9.2% compared to the year prior.
During June, Viva Aerobus achieved an 86% load factor, which was 2.7 percentage points lower than June 2023’s level. Meanwhile, capacity, measured in available seat miles, increased by 6.8%.
Previvale Announces New Leadership
Previvale, an issuer of grocery vouchers and electronic wallets distributing corporate resources and social programs, announced the appointments of José Antonio García León as CEO Principal and Socio, and Patricia Torres as General Director.
Both bring extensive experience from leading firms in the sector, such as Up Sí Vale and Broxel. Their first success was securing authorization from Mexico’s Secretary of Economy, Marcelo Ebrard, to use the “Made in Mexico” logo, ensuring quality for users of their financial services.
Previvale was acquired by Grupo Klu, led by Alberto Djemal, which recently inaugurated its new corporate tower in Lomas Virreyes, Mexico City.
SpaceX Invests $2 Billion in xAI
SpaceX has committed to investing $2 billion in xAI as part of a $5 billion capital round, strengthening ties between Elon Musk’s companies while his AI firm competes against rival OpenAI.
The investment follows xAI’s merger with X, valuing the combined entity at $113 billion. The chatbot Grok is already compatible with Starlink and is expected to be integrated into Tesla’s Optimus robots in the future.
In response to a post on X about Tesla potentially investing in xAI, Elon Musk stated on Sunday: “That would be great, subject to board and shareholder approval.”
Key Questions and Answers
- Q: Who is Jensen Huang, and why is his share sale significant? Jensen Huang is the CEO of NVIDIA. His recent share sales, totaling $36.4 million, have drawn attention due to the size of the transactions and NVIDIA’s strong stock performance this year.
- Q: What does Viva Aerobus’s 6.1% passenger traffic increase indicate? Viva Aerobus’s 6.1% passenger traffic growth in June is the smallest increase since August 2020, reflecting a modest recovery in Mexico’s aviation sector.
- Q: Who are the new leaders at Previvale, and what is their background? José Antonio García León and Patricia Torres have been appointed as CEO Principal and Socio, and General Director, respectively, at Previvale. Both have experience leading successful companies in the grocery voucher and electronic wallet sector.
- Q: Why is SpaceX’s investment in xAI noteworthy? SpaceX’s $2 billion investment in xAI is significant as it strengthens ties between Elon Musk’s companies and positions xAI as a major competitor to OpenAI in the AI space.
