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Nvidia’s Surge Puts CEO Jensen Huang on Cusp of Cracking World’s 20 Richest

Nvidia’s Surge Puts CEO Jensen Huang on Cusp of Cracking World’s 20 Richest
Jensen Huang, co-founder and chief executive officer of Nvidia Corp., arrives at an event in Taipei, Taiwan, on Thursday, Jan. 25, 2024. Nvidia, which more than tripled its market value in 2023 thanks largely to its pivotal role in AI development, is up another 20% this year as investors bet on its sector leadership.

Nvidia Corp. Chief Executive Officer Jensen Huang said artificial intelligence has hit a “tipping point,” sending the stock to new dizzying heights.

Nvidia Corp. Chief Executive Officer Jensen Huang said artificial intelligence has hit a “tipping point,” sending the stock to new dizzying heights.

The renewed rally has Huang on the verge of his own breakthrough: becoming one of the 20 richest people in the world.

Huang’s wealth jumped $8.5 billion to $68.1 billion Thursday, a gain that will leapfrog him ahead of Charles Koch and Chinese bottled-water tycoon Zhong Shanshan to 21st place on the Bloomberg Billionaires Index. It’s a remarkable rise for the co-founder of the semiconductor company, who was ranked 128th with a net worth of $13.5 billion as recently as early last year.

Huang Climbs the Wealth Rankings | Nvidia CEO is the 21st richest person in the world

Nvidia surged 16% Thursday to a record high, adding over $230 billion in market value. That would be the biggest single-session increase in market history, beating Meta Platforms Inc.’s $197 billion gain earlier this month. The company was able to beat sky-high investor expectations with a revenue forecast that was more than $2 billion ahead of analyst expectations.

Read More: What Bubble? Nvidia Profits Are Rising Even More Than Its Stock

Nvidia’s rally boosted the fortunes of the 28 billionaires on Bloomberg’s wealth list who attribute at least some of their wealth to AI by a combined $35.7 billion. Charles Liang, CEO of Super Micro Computer Inc., was the biggest winner on a percentage basis with a 19% jump.

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