Nvidia CEO Jensen Huang has just surpassed Michael Dell, founder of the Dell computer brand, to become the 13th largest owner of wealth in the world.
According to the list of world billionaires of Bloombergthe artificial intelligence (AI) fever has helped leader Nvidia’s net worth increase by 62 billion USD since the beginning of the year, reaching 106.1 billion USD.
Jensen Huang holds 3.5% of Nvidia shares – the company he co-founded in 1993 with Chris Malachowsky and Curtis Priem. Previously, Nvidia became the first chip company to reach a capitalization of 3,000 billion USD, surpassing even the “giant” Apple.
CEO Jensen Huang’s wealth increased rapidly thanks to the AI fever. Photo: Bloomberg
Theo BloombergNvidia shares soared amid rising demand for chips, used to train and operate artificial intelligence models.
Nvidia now not only provides hardware, but also develops a software ecosystem that supports AI training. This is something AMD or Intel are trying to catch up with to increase competitiveness.
At age 61, Huang leads the wave of tech billionaires emerging thanks to AI. Some other figures include AMD CEO Lisa Su, and Supermicro CEO Charles Liang. Last month, Huang’s fortune surpassed that of members of the richest Walton family in America.
Meanwhile, Dell, who was just surpassed by Huang, has a net worth of 105.9 billion USD. This CEO is a prominent name in the computer hardware industry. The majority of Dell’s assets come from the company of the same name, famous for its personal computers and servers.
Dell also benefits from the AI wave, when corporations need servers and infrastructure to mount Nvidia chips. Investors see Dell, Supermicro and Nvidia as names that will “move forward” in the near future.
In early March, Dell joined the group of billionaires with assets exceeding $100 billion thanks to the company’s stock hitting a record. However, after Dell announced disappointing business results, the founder’s assets decreased by 12 billion USD in just one day.
(According to BI)