Has the AI Cash-Out Wave Begun?
The AI cash-out wave has begun?
The artificial intelligence boom is not only reshaping market dynamics but also creating immense wealth for insiders within companies, who are converting these paper gains into real cash.
On October 12, data from Washington Service, which tracks such transactions, revealed that insiders at CoreWeave, an AI computing company at the center of this wave, quickly sold over $1 billion worth of stock after the lock-up period following its IPO ended in mid-August.
This marks the first opportunity for insiders to cash out on a large scale since the company's stock price surged over 250% after its listing in March this year.
This trend is not limited to CoreWeave. Among the top ten insider sellers in the third quarter, seven were from companies profiting from AI.
CoreWeave Executives Lead the Cash-Out Wave
As a highly regarded "newcomer" in the AI field, CoreWeave has seen remarkable stock performance since its March listing, providing substantial returns for early investors and the executive team. Once the lock-up period ended, high-value cash-outs followed.
According to Washington Service, the company's director, Jack Cogen, sold $477 million worth of stock in the third quarter, becoming the largest seller among insiders. He was followed by co-founder Brannin McBee, who raised $426 million through stock sales.
Reports indicate that both sales were executed under pre-established "10b5-1" trading plans, which are linked to the stock price reaching specific targets.
In addition to executives, CoreWeave's largest institutional shareholder, Magnetar Financial LLC, also sold nearly $1.9 billion in shares during the same period.
However, an October filing showed that the Illinois-based hedge fund still holds over 20% of the company's Class A shares after the reduction. Both CoreWeave and Magnetar declined to comment on the related transactions.
The AI Boom Creates Major "Stock Sellers," Jensen Huang Cashes Out Over $743 Million
The insider sales at CoreWeave are just a microcosm of the wealth realization happening across the entire AI industry. The presence of AI-related companies is evident in the third quarter's insider seller rankings, confirming the significant impact of this technological revolution on personal wealth.
The stock price of networking equipment company Arista Networks reached an all-time high following its analyst day in September. Its CEO, Jayshree Ullal, sold over 6 million shares in the third quarter under her "10b5-1" plan, totaling $861 million, placing her second on the list.
As the absolute leader in the AI chip sector, NVIDIA's CEO Jensen Huang continued with his planned sales, cashing out over $743 million in the third quarter. According to Washington Service, the total amount sold by NVIDIA insiders in the first three quarters of 2025 has approached $1.5 billion.
Cashing Out $4.917 Billion, Amazon Founder Bezos Tops the List
Despite the frequent cash-out actions by executives in the AI sector, the largest insider seller in the third quarter was still Amazon founder Jeff Bezos.
He completed a sale of 21.675 million shares in the third quarter, cashing out a staggering $4.917 billion, a figure that exceeds the total of the other nine sellers on the list.
This sale is part of his plan to sell 25 million shares valued at nearly $5.7 billion between June and July. According to data compiled by Bloomberg, Bezos often uses the proceeds from stock sales to fund other projects, such as his space company Blue Origin.
Other Notable Faces on the List
In addition to the aforementioned individuals, the top ten sellers in the third quarter also included several other billionaires from the technology and finance sectors.
Frank Slootman: Chairman of cloud data company Snowflake, sold $463 million worth of stock.
Tony Ressler: Co-founder of investment firm Ares Management Corp., sold $357 million worth of stock.
Herald Chen: Director and former CFO of mobile advertising technology company AppLovin Corp., sold nearly $313 million worth of stock.
Baiju Bhatt: Co-founder of trading platform Robinhood Markets Inc., sold nearly $300 million worth of stock.
Brian Armstrong: CEO of cryptocurrency exchange Coinbase Global Inc., sold $268 million worth of stock, stating on social media that the proceeds would fund scientific research and his co-founded biotechnology startup.
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