1. Calpers sold 5.6M Nvidia shares. Q4 sale reduced holdings to 59.7M. 2. NVDA surged 171% in 2024 versus S&P 500's 23% rise. Trading is now flat. 3. NVDA tumbled after DeepSeek AI news. Shares later recovered amid volatility.
Calpers' systematic sale reduced its NVDA holding but appears as a routine quantitative rebalance. Historically, similar large institutional trades have had limited lasting price effect.
As a major institutional move, Calpers' sale is moderately significant, likely affecting short-term sentiment without altering long-term prospects.
The trade may introduce temporary volatility and supply pressure, but NVDA's strong fundamentals suggest minimal long-term impact.