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Former US House Speaker Nancy Pelosi’s decision to sell Nvidia and Apple stocks just prior to the decline raises questions about whether she had foreknowledge of this downturn
As per a report in Daily Express US, Pelosi sold 10,000 Nvidia shares on New Year’s Eve, valued between $1 million and $5 million. (AP Photo)
Top Democrat and former Speaker of the US House Of Representatives Nancy Pelosi dumped bulk of her shares in Nvidia shortly before the California chipmaker’s stocks plummeted following the massive disruption brought on by the launch of the Chinese DeepSeek AI model. The upstart’s new large-language model is a direct competitor to American models like ChatGPT, Gemini and Claude but reportedly uses far less computing power and cost.
Nvidia became a household name as its stock more than tripled in 2023 and then more than doubled in 2024. Investors and analysts lauded CEO Jensen Huang as the “Godfather of AI”. Nvidia grew into a $3 trillion-plus behemoth and traded places with titans like Apple to become the most valuable company on Wall Street.
But that all came to a screeching halt this Monday, at least for a moment, after DeepSeek hit the market. Nvidia stocks plunged nearly 17%, which was its worst drop since the 2020 Covid crash.
Upon the public debut of DeepSeek, concerns arose regarding the extensive investments the US was making in artificial intelligence. Although DeepSeek was developed at a fraction of the cost, its performance is believed to rival that of AI chatbots like OpenAI’s ChatGPT, Google’s Gemini and Anthropic’s Claude. This development contributed to a substantial decline in the stocks of several American technology companies, including Nvidia.
But Nancy Pelosi appeared to have anticipated this threat to Nvidia even before the stock market reacted to DeepSeek. As per a report in Daily Express US, she sold 10,000 Nvidia shares on New Year’s Eve, valued between $1 million and $5 million. Furthermore, she also divested 31,600 shares of Apple, which were valued between $5 million and $25 million. Notably, Apple’s stock also decreased following the introduction of DeepSeek.
Pelosi has now garnered attention for her precise investment strategies. Her decision to sell Nvidia and Apple shares just prior to the decline raises questions about whether she had foreknowledge of this downturn.
