Image source: NVIDIA
Thanks to the hype around artificial intelligence and Nvidia’s leading position as a manufacturer of GPU accelerators for AI, the company’s shares have seen impressive growth. Last June, Nvidia became the most valuable company in the world by market capitalization. Although its shares have since corrected 10% from their all-time high, it is still among the top five companies, along with tech giants such as Apple, Microsoft, Alphabet (Google) and Amazon.
Nvidia’s surge in value has brought huge profits to Huang, who directly owns more than 75 million shares of the company, as well as another 786 million shares through various trusts and partnerships. Although he has sold more than $700 million worth of them this year, that is just a drop in the ocean compared to the total estimated value of his stake in Nvidia, which exceeds $100 billion. This moves Huang to 11th place on the list of richest people. world according to Forbes, falling short of the top 10 by less than $20 billion.
The Nvidia CEO has attracted the attention of other key industry players and celebrities, especially after the GTC 2024 conference. Thus, Elon Musk and Larry Ellison, who occupy the first two places on the Forbes list, approached him with a request for supply of additional GPUs for AI. Ellison mentioned this during Oracle’s latest report, which only increased Huang’s popularity and status.
As for Intel, the company was unable to take advantage of the AI boom, and its market capitalization declined significantly amid the financial crisis, which became known in August. As a result, Intel shareholders lost $39 billion literally overnight, and the company’s shares fell to $22.59 per share (less than half of their peak value at the end of 2023). Rumors about Intel’s possible exclusion from the Dow Jones Industrial Average only make matters worse. This event sparked a lot of discussion on social networks, where there is now a joke that Huang, known for his love of leather jackets, could buy Intel.