Jensen Huang’s net worth jumped to $91.3 billion, bumping him up three spots on the Bloomberg Billionaires Index to become the 17th-richest person in the world.
Nvidia Corp. has reported Blockbuster profit and revenue skyrocketing as the company's dominance in chips for artificial intelligence applications fuelled extraordinary demand. Nvidia Corp, is an American company making AI chips. It is the third most valuable company in the world after Microsoft and Apple. Its market cap has reached $2.61 trillion. That means it is 10 times bigger than India's most valuable company Reliance Industries. The market cap of this company of Mukesh Ambani is $241.21 billion. Jensen Huang, CEO of Nvidia is the highest-earning rich man this year. Jensen Huang owned a stake in his chipmaker worth roughly $3 billion five years ago. With the stock hitting a record high on Thursday, his holdings now total more than $90 billion.
Almost all of his money is invested in Nvidia stock, which surged 9.3% following a bullish sales estimate that reaffirmed the company's leadership in spending on artificial intelligence.
Nvidia late Wednesday reported first-quarter earnings that were above estimations, citing a third consecutive quarter of revenue increases of more than 200% due to the demand for artificial intelligence chips.
Huang gave investors a better-than-expected projection and said the company expects an endless market for its AI graphics processing units or GPUs. The business implied that its clients, particularly the large cloud computing firms, would receive a good return on their costly chip investment.
Huang owns more than 3.5% of Nvidia's outstanding shares or around 86.76 million shares. His investment gained over $7.7 billion in value as the stock surged over 9% on Thursday, closing at around $1,038 per share.
Nvidia's stock tripled in 2023 and has since more than doubled this year. In the last five years, they have increased roughly 28 times. In 2022, before the AI boom, Huang increased his holding in shares of the company.
Jen-Hsun Huang was born in Taiwan in 1963. At the age of five, his family relocated to Thailand. When he was nine years old, he and his brother were sent to live with their cousins in the United States. Jensen completed his undergraduate degree in electrical engineering from Oregon State University in 1984, and master's degree in electrical engineering from Stanford University in 1992.
In 1993, Huang (sixty-one) established the Silicon Valley business to produce GPUs for 3D gaming. For many years, Nvidia's primary business was gaming, but it has now expanded into other areas, such as cloud gaming subscriptions, the metaverse, and cryptocurrency mining processors.
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