- Nvidia stock hits record high
- Company dominates AI chip market
- CEO Jensen Huang’s net worth soars alongside unprecedented demand for new chips
Chip off the old block
Nvidia’s stock reached a record high on Monday, closing at $138.07. This surge comes ahead of anticipated earnings updates from tech giants Microsoft, Meta, Google, and Amazon regarding their AI infrastructure spending.
Money machine go brrr
The chipmaker’s meteoric rise is nothing short of astounding, with shares skyrocketing nearly 180% this year alone. Nvidia’s dominance in the AI chip market, controlling an estimated 70% to 95%, has propelled it to become the second most valuable U.S. company, boasting a market cap of $3.4 trillion.
The man behind the magic
At the helm of this AI juggernaut is CEO Jensen Huang, whose net worth has ballooned to an estimated $121.5 billion. The future looks bright for Nvidia, with Huang reporting “insane” demand for their upcoming Blackwell chips, slated for release in Q4 and already sold out for the next 12 months.
