The estate of the co-founder of Nvidia Corp., jensenhuangincreased on Thursday by more than US$6 billion to reach an all-time highafter the manufacturer French fries forecast sales that beat expectations, sending its shares soaring.
Huang, the CEO of the company, had a fortune of nearly $34 billion at market openingwhich represents an increase of around 23% compared to the previous day and more than 140% so far this year. If the rise holds up, he would become the billionaire who has earned the most this year, according to the Bloomberg Billionaires Index.
The new big scam is with Artificial Intelligence: they kept $610,000 from a Chinese businessman
Nvidia has benefited from the AI frenzy, which is driving demand for processors capable of speeding up computing. The company projects sales ofe US$11 billion in the current quarter, surprising even the most bullish analysts on Wall Street. The expectation was that the figure would be around US$7.2 billion.
Shares of the Santa Clara, California-based company rose 26% at 10:30 a.m. in New York to hit an all-time high. Rally puts Nvidia one step away from reaching a $1 trillion valuationwhich would make it the ninth company to achieve that milestone.
Huang’s fortune comes almost entirely of Nvidia stock. Known for his black leather jackets and a tattoo resembling the Nvidia logo, he co-founded the company in 1993 and introduced the first graphics processing unit in 1999.
You may also like
