Nvidia Founder's Wealth Surges to $34 Billion on AI Boom (1)
(Bloomberg) — Nvidia Corp. co-founder Jensen Huang’s wealth surged by $6.4 billion to a record high Thursday after the chipmaker forecast sales that crushed expectations, sending its stock soaring.
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Mark Liu, chairman of Taiwan Semiconductor Manufacturing Co. (TSMC), speaks with Jensen Huang, chief executive officer of Nvidia, right.
Huang, the company’s chief executive officer, is worth $34 billion, a jump of about 23% from the prior day and 146% year-to-date. That makes him the biggest gainer among billionaires globally so far this year, according to the Bloomberg Billionaires Index.
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Nvidia has benefited from the artificial intelligence frenzy, which is boosting demand for processors that can speed up computing. It expects $11 billion in sales in the current quarter, surprising even the most bullish forecasters on Wall Street. Analysts had estimated that figure was going to be roughly $7.2 billion.
Read More: Nvidia Shares Surge to Record High Amid AI Chip Frenzy
Shares in the Santa Clara, California-based company rose to a record high, putting Nvidia within reach of a $1 trillion market value.
Huang’s fortune is almost entirely derived from Nvidia shares. Known for his black leather jackets and a tattoo that resembles the Nvidia logo, he co-founded the company in 1993 and introduced the first graphics processing unit in 1999.
Read More: Nvidia Chip King’s Fortune Doubles to $27.3 Billion on AI Boom
(Updates with closing numbers throughout)
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