Nvidia CEO Jensen Huang Jumps Up Billionaire List Amid Company’s Stock Surge
Nvidia CEO Jensen Huang experienced a significant surge in wealth on Thursday as the tech company he helped found in 1993 witnessed a remarkable increase in its stock value.
Ranked by Bloomberg as the 21st wealthiest individual globally, Huang’s net worth soared by approximately $8.5 billion in a single day, propelled by a 15% surge in Nvidia’s stock price during morning trading.
At 61 years old, Huang now boasts an estimated net worth of $68.1 billion, surpassing Charles Koch and swiftly closing in on members of the Walton family, heirs to the Walmart fortune, who collectively own Walmart, boasting a market cap of approximately $471 billion. The world’s richest list is currently led by Elon Musk, Bernard Arnault, and Jeff Bezos.
Since Nvidia’s inception, Huang has played a pivotal role, serving as co-founder, CEO, president, and board member. He retains ownership of approximately 3% of the company.
The Taiwanese-born tech luminary pursued studies at Oregon State University and Stanford University before gaining industry experience at chip companies like LSI Logic and Advanced Micro Devices (AMD). Eventually, he co-founded Nvidia alongside Chris Malachowsky and Curtis Priem. While Malachowsky remains with Nvidia, Priem departed the company in the early 2000s.
Nvidia, now among the largest companies on the stock market with a valuation just shy of $2 trillion, experienced substantial gains following its exceptional earnings report, buoyed by the artificial intelligence boom.
Huang emphasized the transformative impact of generative AI, noting that it has reached a tipping point and is experiencing surging demand globally across various sectors.
This optimistic outlook translated into a remarkable performance on Wall Street, a stark turnaround from earlier in the week when Nvidia faced its worst trading day since October.
The chipmaker reported nearly $12.3 billion in profits for the three months ending January 28, a staggering 769% increase year-over-year, surpassing even the most optimistic Wall Street forecasts. Its full-year profits surged by over 580% compared to the previous year.
The positive momentum extended to other chipmakers, with AMD’s shares rising by 11% and Microsoft’s by 2%.
Nvidia’s dominance in the AI semiconductor market remains unparalleled, commanding approximately 70% of global AI semiconductor sales. It continues to lead the charge in developing processors powering artificial intelligence systems, particularly in generative AI technology.
Despite competition from tech giants like Meta, Amazon, IBM, and Microsoft, Nvidia’s core data center business saw a remarkable 409% year-over-year growth, reaching a record $18.4 billion in the fourth quarter, driven by strategic partnerships with industry heavyweights such as Google, Amazon, and Cisco.
Goldman Sachs analysts labeled Nvidia as “the most important stock on planet earth,” underscoring its critical role in the broader market landscape.
