Amid the boom in artificial intelligence (AI), NVIDIA, a semiconductor manufacturer, has surpassed Saudi Aramco, the world’s largest oil company, to become the world’s third-largest company by market capitalization. The only companies ahead of NVIDIA are Apple and Microsoft.
According to Bloomberg, NVIDIA’s market cap on the 4th (local time) surpassed $2 trillion for the first time on the 1st and soared to $2.13 trillion on the 4th. On the other hand, Aramco’s market cap fell to $2.1 trillion, according to Bloomberg statistics.
According to Bloomberg’s analysis, NVIDIA’s recent growth can be attributed to the trend of the market shifting towards artificial intelligence. NVIDIA’s stock price has risen by approximately 70% this year, and its market capitalization has increased by $883 billion. On the other hand, prices have suffered a 5% decline this year due to reduced production resulting from oil cuts. Aramco’s stock price has suffered a 5% decline this year due to reduced production resulting from oil cuts.
As a result, Jensen Huang (61), CEO of NVIDIA, has become the 20th richest person in the world. According to the Bloomberg Billionaires Index, Jensen Huang held a total fortune of $75 billion, including about 3.5% of the company’s shares. This is an increase of 70% ($31 billion) from the previous year.
In addition, Jensen Huang is known as a ‘real estate tycoon’ with approximately $55 million in assets. On the 5th, the Wall Street Journal (WSJ) reported that Jensen Huang has been buying real estate of this scale in California, San Francisco, Hawaii, and other places since the late 1980s.
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