SANTA CLARA, California: Executives at Nvidia have quietly been cashing in on the AI frenzy. According to a report by the Financial Times, insiders at the California-based chipmaker have sold over US$1 billion worth of shares in the past year, with more than half of that offloaded just this month as the company's valuation soared.

The timing coincides with Nvidia's meteoric stock rally, powered by investor excitement over artificial intelligence. As markets returned to the "AI trade" in recent weeks, Nvidia's shares surged to an all-time high and briefly made it the world's most valuable company once again.

Among those selling was CEO Jensen Huang, who began trimming his holdings this week for the first time since September, according to a filing with the U.S. Securities and Exchange Commission.

The FT report noted that over $500 million of the share sales took place in June alone, as the chipmaker's price climbed sharply following upbeat analyst commentary that Nvidia was set to ride a "Golden Wave" in AI.

Nvidia declined to comment on the report, and Reuters was unable to independently verify it.

Nvidia's shares have surged more than 60 percent from their April 4 closing low. That low point came amid investor unease over President Donald Trump's announcement of new global tariffs, which rattled Wall Street. Since then, stocks have rebounded on optimism that the administration will ease trade tensions through upcoming deals.