Jensen Huang, CEO of Nvidia Corporation (NASDAQ:NVDA), has ascended the wealth ladder as his company’s market value nears $3 trillion due to steady growth.
Yesterday, Huang surpassed Michael Dell, the CEO of Dell Technologies Inc. (NYSE:DELL) to claim the 13th spot on the Bloomberg Billionaires Index, with a net worth of $106.1 billion.
His wealth surged by over $62 billion this year, driven by a relentless demand for Nvidia chips fueling artificial intelligence tasks, Bloomberg reported.
At 61, Huang has led a cohort of tech billionaires in the AI-driven surge dubbed “Jensanity” by analysts, with Lisa Su of Advanced Micro Devices, Inc. (NASDAQ:AMD) and Charles Liang of Super Micro Computer, Inc. (NASDAQ:SMCI) also reaping benefits, the report added.
In the last month, Huang’s wealth eclipsed that of each member of the Walton family, America’s wealthiest, after another stellar quarter from Nvidia.
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Huang’s riches originate from his 3.5% ownership in Santa Clara’s Nvidia, which was established with Chris Malachowsky and Curtis Priem in 1993.
Nvidia recently became the first chip firm to reach a $3 trillion market cap, surpassing Apple Inc. (NASDAQ:AAPL).
Dell, aged 59, boasts a $105.9 billion net worth, which stems from his computer hardware company. Despite software magnates dominating the tech billionaire landscape, Dell Technologies has flourished alongside Nvidia’s AI triumph, aligning with Super Micro as Nvidia’s favored collaborator for hardware needs.
Dell’s fortune soared to over $100 billion in March but faced a setback after underwhelming earnings reports, causing a nearly $12 billion dip in value in a single day.
Today, Nvidia dominates the market for high-end AI accelerators, amid competition from rivals like AMD and Intel Corporation (NASDAQ:INTC). With plans to annually upgrade its AI accelerators, Nvidia has maintained its lead in hardware and software solutions, impeding attempts by competitors to challenge its position, according to Bloomberg.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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