2024-05-06 02:46:52
Number one in earnings
Nvidia shares rose 3.46% on Friday. With this, the net worth of the company’s founder and CEO Jensen Huang also increased by $2.58 billion. He joined the list of top 20 richest people in the world with a net worth of $78.2 billion. This year his net worth has increased the most by $34.2 billion. During this period, the net worth of Facebook’s Mark Zuckerberg has increased by $ 32.8 billion and the net worth of Amazon founder Jeff Bezos has increased by $ 31.3 billion. Mukesh Ambani’s net worth has increased by $14.3 billion this year and Gautam Adani’s net worth has increased by $14.2 billion.
How did it start?
Nvidia was founded by Jensen Huang. Huang was born in 1963 in Taiwan. His childhood was spent in Taiwan and Thailand. In 1973, his parents sent him to their relatives in America. After a few days he also went to America. Nvidia was founded in April 1993. Initially this company manufactured video-game graphics chips. When the company’s stock reached $100, Huang got a tattoo of the company’s logo on his arm. He has 3.5 percent stake in Nvidia.
Why is the share increasing?
There was a huge rise in the shares of the company during the Corona period. Due to the crypto boom, there was an increase in the use of chips in its mining. But after that the price of the company’s shares fell by two-thirds. Now, with the increasing trend of AI, the company’s shares are rising again. Huang says AI is leading the computer revolution. It is easy to use, so it is growing rapidly. No industry will remain untouched by this. Companies around the world are turning to more powerful computers that can handle generative AI like ChatGPT. It was the wonder of Nvidia’s chips that helped companies like Microsoft develop features like Bing.
competition between companies
There is a competition among big tech companies like Microsoft and Google to get more and more chips from Nvidia. Besides, Saudi Arabia and UAE are also buying thousands of chips from the company. Not only this, Chinese companies Tencent and Alibaba are also standing at Nvidia’s doorstep. It is clear from this how much demand there is for Nvidia’s chips in the world. Due to the increasing trend of chatbots and other tools, it is expected to increase further in the coming days.
14 hours work
Huang says his work starts at six in the morning. He works 14 hours daily. Also work on holidays and weekends. He believes that it is necessary to struggle to achieve something in the world. To connect with the employees, he eats food in the café itself. He recalls that the company was on the verge of bankruptcy in the late 1990s but he did not give up. Today Nvidia is among the top three valuable companies in the world.