Nvidia Corp.'s Jensen Huang has steadily climbed the ranks of the world's richest people, with the market value of his computer chip maker reaching $3 trillion.
Huang achieved another milestone on Friday, surpassing PC pioneer Michael Dell to become the world's 13th richest person with a net worth of $106.1 billion, according to the Bloomberg Billionaires Index. His wealth has risen by more than $62 billion this year, as demand for Nvidia chips used to power artificial intelligence tasks remains insatiable.
Huang, 61, is leading a new wave of tech billionaires thanks to artificial intelligence.sexuality,“As one analyst described it, it controls Silicon Valley. Other beneficiaries include Lisa Su, CEO of Advanced Micro Devices Inc., as well as Charles Liang of Super Micro Computer Inc. Last month, Huang's fortune Transgression Every member of the Walton family, America's richest family, is in the wake of another blowout quarter from the chip maker.
Huang's wealth is derived from his 3.5% stake in Santa Clara, Calif.-based Nvidia, which he co-founded in 1993 with Chris Malakowski and Curtis Brehm. Nvidia became the first computer chip company 3 trillion dollars in market cap on Wednesday, surpassing that of Apple, and was flirting with that index again on Friday.
Dell, 59, who has a net worth of $105.9 billion, was a PC startup among the tech rich, who often owe their fortunes to software companies. Dell made much of his fortune through his company of the same name, which sells personal computers and servers.
However, Dell Technologies Inc. has benefited. From the recent success of artificial intelligence, companies need servers and other infrastructure to take advantage of Nvidia's advanced chips. Investors increasingly see Dell, along with Super Micro, as Nvidia's partner of choice in this line of business.
In early March, Dell joined the small group of people with significant wealth 100 billion dollars The company's shares rose to a record level. The stock has since fallen after publishing results that disappointed investors, causing its founder's wealth to drop by nearly $12 billion in a single day.
Today, Nvidia dominates an ecosystem of hardware and software solutions that competitors, from AMD to Intel Corp, are trying hard to cannibalize or replicate, thanks to its dominant share of the market for high-end accelerators used to train artificial intelligence.
It shows no signs of slowing down or letting its competitors catch up. Huang He said The company plans to upgrade its so-called artificial intelligence accelerators every year.