Nvidia CEO Jensen Huang's wealth soars as ChatGPT and OpenAI explode in popularity
Nvidia's shares have dramatically increased in value this month
Published: 31st January 2023 | Source: Bloomberg |
Jensen Huang is now $4 billion richer thanks to ChatGPT and Wall Street's bets on AI
Thanks to the rise of OpenAI and their ChatGPT language tool, investors have started to bet big on AI chipmakers, seeing the AI revolution as a an easy wealth driver during an otherwise difficult economy.
Nvidia's CEO and co-Founder Jensen Huang has seen his net worth explode over the past few weeks, with Bloomberg Billionaires stating that the tech mogul has already seen is net worth increase by over $4 billion this year at the time of writing. That's the largest percentage increase in net worth of all of the US' billionaires.
This increase in Huang's net worth comes thanks to his Nvidia stock, which has seen its value increase by over 35% over the past month. This increase in value is due to Nvidia's dominant role within the AI chipmaking market, with the growth of ChatGPT and OpenAI being seen as major growth drivers for Nvidia moving forward. Bloomberg has estimated that ChatGPT's growth alone could increase Nvidia's sales by between $3 billion and $11 billion per year, which is a huge deal for the GPU giant.
Nvidia is seen as a likely winner as AI becomes a increasingly important part of the semiconductor market, with their latest RTX GPUs and HPC products featuring dedicated AI accelerators and other technologies that make their products ideal for many AI workloads.
With an extra $4 billion in his vault, Jensen Huang is going to be able to afford a lot of new leather jackets. That said, it remains to be seen if Nvidia's stock prices will remain this high now that the GPU market has slowed following the bursting of the crypto bubble.
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