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Tech insiders are cashing out during the AI-fueled stock rally
  + stars: | 2024-03-06 | by ( Yun Li | ) www.cnbc.com   time to read: +4 min
Nvidia Nvidia is the leader of the pack with shares surging more than 70% year to date, following a nearly 240% advance last year. A number of directors at the company sold shares in late February amid the fierce rally. NVDA 1Y mountain Nvidia Nvidia has been the primary beneficiary of the recent technology industry obsession with large artificial intelligence models, which are developed on the company's pricey graphics processors for servers. Meta Platforms Meta CEO Mark Zuckerberg trimmed his stake in separate sales over the past week. Satya Nadella (CEO) sold 1,300 shares on March 1 Bradford L. Smith (vice chair and president) sold 48,300 shares in early February.
Persons: Mark Stevens, Michael McCaffery, Mark Perry, Harvey Jones, Mark Zuckerberg, Zuckerberg, Meta's, Sherman Tuan, George Kao, Don Clegg, Lisa Su, Darla M, Smith, Mark Papermaster, Satya Nadella Organizations: Nvidia, Nvidia Nvidia, Microsoft, Whirlpool, AMD, Microsoft Microsoft, Bradford, Amazon Web Services
From Palm Beach to Miami Beach, luxury home prices in Florida's richest enclaves are reaching new records as billionaires and millionaires continue to buy up property. The average price per square foot of homes sold in Palm Beach reached $4,554, more than 2.5 times more expensive than Manhattan. "The prices are mind-blowing," said Chris Leavitt, a top Palm Beach broker with Douglas Elliman. Miami Beach has also seen a spike in prices from wealthy buyers — especially billionaires. "Both Palm Beach and Miami Beach are disconnected from the interest rate trend."
Persons: Douglas Elliman, Miller Samuel, Chris Leavitt, Jonathan Miller, Leavitt, James Tigani, Harvey Jones, Tommy Hilfiger, Michael Cantanucci, Corcoran, Eric Schmidt, Ken Griffin, Alex Rodriguez, Griffin, Jeff Bezos, Tom Brady Organizations: Palm, Tech, Brokers, National Football League, CNBC Locations: Palm Beach, Miami Beach, Manhattan, New York , New Jersey, California, Florida, Miami
Billionaire Charles Johnson has fought to stop a clam shack opening next to his Nantucket cottage. Steve Karp, the CEO of Nantucket Island Resorts, owns a property empire, including the proposed clam shack restaurant on Straight Wharf, the publication reported. "It's 18 inches from my bedroom," Johnson told The Current. "I don't want to carry a grudge," Johnson told The Current. The site of the proposed Straight Wharf Fish Market is 18 inches from Johnson's cottage, "Omega," which Bloomberg valued at $6.5 million.
Persons: Charles Johnson, Johnson, Charles Schwab, Eric Schmidt, Steve Karp, Kevin Burleson, Burleson, Gabriel Frasca, Fresca, Danielle DeBenedictis, Harvey Jones, " Karp, DeBenedictis Organizations: Bloomberg, Service, San Francisco Giants, Franklin Resources, Alcohol Beverages Control, Resorts, Nantucket Locations: Nantucket, Wall, Silicon, Wharf, Massachusetts
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