It might interest investors, then, that Nvidia's CEO, Jensen Huang, has been selling some of his Nvidia holdings. In the last month alone, Huang sold 720,000 shares totaling about $78 million.

Nvidia is the world's largest producer of discrete GPUs for high-end PCs and servers. Its GPUs can be used to process high-end graphics in video games, power photo and video editing software, mine cryptocurrencies, and process complex artificial intelligence (AI) tasks.

Wall Street's smartest and richest money managers are casting aside shares of Nvidia in favor of two other members of the "Magnificent Seven."