Convenient Timing: Paul Pelosi Sold Computer Chip Stock in Time to Avoid Heavy Losses

Paul Pelosi, the husband of House Speaker Nancy Pelosi (D-CA), cut his losses in software company Nvidia before the United States placed new restrictions on computer chip sales to China and Russia.

As noted by an analysis from MoneyWise, Pelosi sold 25,000 shares of Nvidia on July 26 at an average price of $165.05 — causing a loss of $341,365, according to a set of disclosures. One month later, Nvidia revealed that the federal government imposed export restrictions on the company’s A100 and forthcoming H100 circuits. The new regulations will “address the risk that the covered products may be used in, or diverted to, a ‘military end use’ or ‘military end user’ in China and Russia,” Nvidia said in a filing with the Securities and Exchange Commission.

Shares in Nvidia fell 7.7% on the news and a total of 16% since Pelosi sold shares on July 26. Pelosi — who was arrested after alleged drunk driving earlier this year — formerly exercised 200 call options on their expiration date of June 17 at a strike price of $100, according to more federal filings.

Drew Hammill, a spokesman for Speaker Pelosi, said in a statement to Fox News that the lawmaker had no knowledge of her husband’s transactions. (Read more from “Convenient Timing: Paul Pelosi Sold Computer Chip Stock in Time to Avoid Heavy Losses” HERE)

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