Insiders at artificial intelligence chipmaker Nvidia have dumped more than $1 billion in stock over the last year, according to a Financial Times report. About half of those sales occurred during the last month as the market notched new highs and shook off geopolitical tensions.

Nvidia insiders have sold more than $1bn of the company’s stock over the past 12 months including a recent surge in trading as they cash in on investors’ enthusiasm for artificial intelligence. More than $500mn of the share sales took place this month as the California-based chips designer’s share price climbed to a record high.