Pelosi's husband sells chipmaker stock as House set to vote on semiconductor bill
Paul Pelosi purchased 5,000 Nvidia shares in July 2021 and another 20,000 more shares last month ahead of the expected vote
Paul Pelosi, House Speaker Nancy Pelosi's husband, sold his shares in chipmaker Nvidia one day before the Senate passed legislation to provide billions of dollars in subsidies and tax credits for the U.S. semiconductor industry.
The House is expected to vote on the bill and pass it in the coming days.
In a financial disclosure, the California Democratic speaker disclosed that her husband sold 25,000 Nvidia shares for roughly $4.1 million, losing more than $340,000 on the purchase, Reuters reported.
The CHIPS Act, which passed the Senate on Wednesday 64-33, provides $52 billion in government subsidies for semiconductor manufacturing and gives a $24 billion tax credit to chip plants.
The bill would be voted on in the House under Speaker Pelosi's direction.
This is not the first time Paul Pelosi has made news about his stock purchases. Over the years, he has made headlines for his multi-million dollar buys, specifically with technology companies.