The passage of the CHIPS Act has gained urgency as Intel has refused to move forward on its $20 billion US fab initiative until the legislation is passed. Of course, given the sizable cash influx that NVIDIA and other semiconductor companies stand to gain from this legislation, it is hardly surprising that investors have been responding positively to any development on this count.
This brings us to the crux of the matter. As per the latest
Periodic Transaction Report filed by Nancy Pelosi, her husband Paul Pelosi recently exercised 200 call options related to 20,000 NVIDIA shares. These options were purchased back in 2021 and carried an exercise price of $100.
...
NVIDIA shares closed at $157.62 on Friday. Consequently, the Pelosis are currently sitting on unrealized gains worth around $1.152 million from the recent exercise of NVIDIA options, barring any transaction fees.
Should the CHIPS Act be approved within the next few days, NVIDIA shares are expected to extend nascent gains, netting a windfall for the Pelosis in the process.
The Pelosi's have accumulated 20,000 shares of
$NVDA worth $8M+
All while a $52B CHIPS act has been stalled in Congress.
Yesterday Pelosi states, "We are determined that we will pass a bill" before congress heads to August recess.
$NVDA stock jumps 4% on the news.
— Nancy Pelosi Stock Tracker (@PelosiTracker_)
July 15, 2022
Bear in mind that Nancy Pelosi and her husband have invested
3.3 percent of their portfolio in NVIDIA, as per a tabulation by UnusualWhales.