The total net worth of Jensen Huang, co-founder and CEO of Artificial Intelligence (AI) chip maker Nvidia Corporation, has crossed $ 200 billion. This jump in his net worth came after Nvidia’s shares reached all-time high on Friday. According to the Forbes Real-Time Billionaires List, on Friday morning Huang’s wealth increased to about Rs 203.2 billion i.e. about Rs 17 lakh crore. With this increase, he has become the 7th richest person in the world. Shares rise to $3.4 billion, shares cross $237 Nvidia’s shares reached an all-time high of $237 in Friday’s trading session. Due to which Huang’s wealth increased by $3.4 billion in a single day. However, shares later slipped slightly from higher levels to close at $233.95, up about 1.3%. Jensen Huang founded Nvidia in 1993 and owns about 4% of the company. Due to the increasing global demand for chips used in AI, Nvidia has become the world’s most valuable publicly traded company. Along with this, there has also been a tremendous increase in Huang’s wealth. Know why Nvidia shares are rising? There are two main reasons behind this rise in Nvidia’s shares… Market cap reached $5.7 trillion, close to $6 trillion. So far this year, Nvidia’s shares have risen by about 27% and the company is on the way to give double digit returns for the fourth consecutive year. Nvidia’s market capitalization has now reached about $5.7 trillion. The company is now just $300 billion away from becoming the first company in history to achieve a market cap of $6 trillion. New double-layered AI security system amid security concerns In recent months, there was an atmosphere of uncertainty among investors regarding the huge expenses being made by companies on AI infrastructure and the dangers this technology poses to humanity. To address these concerns, the Santa Clara, California-based chip developer on Monday introduced a new ‘double-layered AI security system’. This system will prevent AI agents from wandering. Nvidia claims that if this system was in place earlier, the recent breach caused by OpenAI’s models could have been prevented. Debate on valuation of chips on Wall Street: On the other hand, a debate has started between analysts and lenders on the American market i.e. Wall Street regarding Nvidia’s financing plan. According to banking sources and credit managers, some lenders are demanding high guarantees from the company on the value of its advanced chips and infrastructure. They are trying to assess how long the life of the revenue coming from these chips will last. Knowledge Box: What is ‘Share Buyback’? When a company buys back its own shares from the stock market, it is called ‘share buyback’. This reduces the availability of shares in the market, which increases the earnings per share and supports the share price. Also read this news… AI models out of control, breach in 100 institutions: To detect the mistake, 50 petabytes of data will have to be checked by AI alone, it will take a human being 6.6 crore years. The model of OpenAI, the company making ChatGPT, has tried to forcibly infiltrate the systems of more than 100 institutions. The company itself has disclosed this. Read the full news…
Source link
[ad_3]
Jensen Huang’s net worth crosses 200 billion dollars: Becomes the 7th richest in the world, reason – Nvidia’s shares made all-time high
