Bezos, an Nvidia executive, and the head of CoreWeave: The Top 10 Insider Sellers in the AI Market

Billionaires in the artificial intelligence (AI) sector were among the top insider sellers in the third quarter, according to data from the research firm The Washington Service, as cited by Bloomberg. This period was particularly volatile for tech stocks due to increasingly urgent warnings about the risks associated with the development of AI, the agency notes.

In July, shares of AI companies fell amid growing investor concerns about the massive amounts of capital being poured into the industry. Prices then rebounded, but began to fall again in mid-September—after Dario Amodei of Anthropic and Sam Altman of OpenAI called for a pause in the development of cutting-edge AI models. Nevertheless, shares of many companies quickly rebounded thanks to the launch of new products—such as Meta’s Muse AI model—and expectations for the next generation of AI architecture from Nvidia.

Bloomberg listed the top 10 largest insider sellers based on data from Washington Service. These statistics take into account transactions by board members who report sales on behalf of their companies, but do not include insider sales made as part of public offerings.

Nvidia board member Mark Stevens, whose net worth is estimated at $12.2 billion by the Bloomberg Billionaires Index, sold approximately 4.24 million shares of the company over the past quarter for a total of $946.6 million. Although the stock price of Nvidia—a chipmaker at the very center of the AI boom—has risen by nearly 27% this year, this performance pales in comparison to that of its competitors. By comparison, shares of Intel and Advanced Micro Devices have more than tripled. At the same time, Nvidia’s profits are growing faster than its market valuation. This reflects Wall Street’s skepticism, even despite the company’s rapid revenue growth, Bloomberg notes.

Jayshri Ullal, Chair of the Board of Directors and CEO of Arista Networks —one of the world’s wealthiest women with a net worth of $8.7 billion (according to Bloomberg)—sold approximately 2.23 million shares worth $446 million. According to documents filed with the U.S. Securities and Exchange Commission (SEC), the transactions took place in August amid rising stock prices for the networking equipment manufacturer. Ullal still owns 2% of Arista’s shares. The company continues to benefit from the AI boom, as the widespread construction of data centers is driving demand for its networking solutions, Bloomberg notes.

Illumina board member Kit Meister sold approximately 2.06 million shares for $436.2 million. The activist investor joined the biotechnology company’s board of directors in March 2025 and began selling off his stake this year through his own hedge fund, Corvex Management. As of September 4, Meister still directly owned 6,780 shares of Illumina, with a market value estimated at $1.86 million.

SharkNinja Board Chairman Wang Xuning, whose net worth is estimated at $10.6 billion by the Bloomberg Billionaires Index, sold approximately 2.67 million shares of the company for $401.2 million. In July, he received special one-time authorization from the board of directors to sell a portion of his stake. Despite this transaction, the businessman still owns approximately 35% of the company’s shares.

Michael Intrator, Chairman of the Board of Directors and CEO of CoreWeave, sold approximately 4.06 million shares for $347.2 million. This provider of computing power for AI systems has become a barometer of the boom in the data center market. Following its 2025 IPO, CoreWeave’s stock price has been volatile, and against this backdrop, top executives led by Intrator have sold billions of dollars’ worth of shares. However, the company emphasizes that management remains confident in the business’s prospects, and the recent transactions are merely part of a planned long-term liquidity management strategy.

Amazon Chairman Jeff Bezos, who ranks third on the Bloomberg Billionaire Index with a net worth of $281 billion, sold approximately 1.21 million shares of the marketplace for $346.5 million. In August, Amazon became the fifth company in history to reach a market capitalization of over $3 trillion, driven by strong results from its cloud division. However, the company’s stock has been volatile this year: investors are increasingly concerned that tech giants are spending too much on the AI race.

Martin Rothblatt, CEO and chairman of the board of directors of the biotechnology company United Therapeutics, sold 608,000 shares worth $314.1 million. The transactions took place against the backdrop of the pharmaceutical company’s recent success: last month, the company won a major victory in a patent dispute with Liquidia over drugs used to treat lung diseases.

John Oiler, Chairman of the Board of Directors and CEO of the biotechnology company BeOne Medicines, sold approximately 904,400 shares for $293.5 million. The transactions took place amid rising stock prices: this year, the drug developer’s shares have gained about 20% in value. Despite selling part of his stake, Oiler still retains a nearly 5% stake in the company.

Peter Beck, chairman of the board of directors and CEO of the space company Rocket Lab, sold approximately 3.28 million shares worth $286.4 million. The transactions took place amid significant strategic moves: in late June, the company agreed to acquire satellite communications pioneer Iridium Communications to compete with SpaceX’s Starlink service.

Frank Slootman, chairman of Snowflake's board of directors, whose net worth is estimated at $3.5 billion by the Bloomberg Billionaires Index, sold approximately 908,200 shares for $282.7 million.

This article was AI-translated and verified by a human editor