Nvidia’s CEO increased his Net Worth by $4.2 billion

Nvidia’s CEO, Jensen Huang, experienced a substantial increase in his net worth by $4.2 billion following the company’s impressive second-quarter earnings report, which surpassed analysts’ expectations. The company’s stock surged by up to 10% in after-hours trading, propelling Huang’s overall wealth to $46.1 billion.

Should the stock’s upward momentum continue, Jensen Huang is poised to join the ranks of the world’s top 25 wealthiest individuals, based on figures provided by the index. Notably, Huang’s significant fortune is primarily tied to his ownership of a 3.5% stake in Nvidia.

Nvidia’s stock experienced a remarkable surge during the pandemic, driven by the soaring cryptocurrency market, which increased the demand for chips essential for cryptocurrency mining. However, the stock subsequently experienced a nearly two-thirds decline over a year before making a recovery.

Throughout this year, the stock’s value has surged more than threefold due to heightened demand for artificial intelligence. The company achieved a remarkable doubling of its revenue in the last quarter and projected substantial growth in both demand and supply over the upcoming year.

Jensen Huang, who co-founded Nvidia in 1993, contributed to its transformation from a graphics chip manufacturer for video games to a dominant force in supplying accelerators crucial for training artificial intelligence software.

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