Jensen Huang of Nvidia Corp. has steadily risen among the world’s wealthiest individuals, as his computer-chip maker’s market value approaches $3 trillion.
On Friday, Huang achieved another milestone, surpassing Michael Dell to become the 13th-richest person globally with a net worth of $106.1 billion, according to the Bloomberg Billionaires Index. His wealth has increased by over $62 billion this year, driven by the insatiable demand for Nvidia chips used in artificial intelligence tasks.
At 61, Huang is leading a new generation of tech billionaires, with AI-driven “Jensanity,” as one analyst described it, sweeping through Silicon Valley. Other beneficiaries include Lisa Su, CEO of Advanced Micro Devices Inc., and Charles Liang of Super Micro Computer Inc. Last month, Huang’s fortune exceeded that of each individual Walton, America’s richest family, after another exceptional quarter for Nvidia.
Huang’s wealth stems from his 3.5% stake in Nvidia, based in Santa Clara, California, which he co-founded in 1993 with Chris Malachowsky and Curtis Priem. Nvidia became the first computer-chip company to reach a $3 trillion market capitalization on Wednesday, surpassing Apple Inc., and was nearing that mark again on Friday.
At 59, Michael Dell, with a net worth of $105.9 billion, has been an outlier in the tech super-rich, who typically amass their wealth through software companies. Dell built much of his fortune through his namesake firm, which sells personal computers and servers.
Nevertheless, Dell Technologies Inc. has benefited from the recent AI boom, as corporations require servers and infrastructure to utilize Nvidia’s advanced chips. Investors increasingly view Dell and Super Micro as Nvidia’s preferred partners in this business line.
In early March, Dell joined the elite group of individuals with fortunes exceeding $100 billion as the company’s shares hit a record high. However, the stock later declined after disappointing investors, reducing Dell’s wealth by nearly $12 billion in a single day.
Today, Nvidia leads an ecosystem of hardware and software solutions that competitors like AMD and Intel Corp. are striving to disrupt or emulate, thanks to its dominant market share of high-end accelerators used for AI training.
Nvidia shows no signs of slowing down or allowing its rivals to catch up. Huang announced that the company plans to upgrade its AI accelerators annually.
