Investment manager James Demmert recommends including Nvidia in a “core” portfolio, predicting growth “over several years.”
Nvidia CEO Jensen Huang’s net worth soared $9.6 billion on Thursday as the AI chip maker’s stock soared after it reported better-than-expected quarterly results.
Hwang’s total net worth is estimated at $69.2 billion, according to the Bloomberg Billionaires Index.
Nvidia on Wednesday reported fourth-quarter revenue of $22.1 billion, a 265% increase from a year ago. Net income increased 769% year over year.
Nvidia CEO Jensen Huang speaks at a press conference at Computex 2023 in Taipei on May 30, 2023. (Sam Yeh/AFP via Getty Images/Getty Images)
AI boom sends NVIDIA stock soaring as revenue grows 265%
“Accelerated computing and generative AI have reached a tipping point,” Huang said in a statement accompanying the quarterly release. “Demand is surging around the world, across companies, industries and nations.”
Nvidia CEO Jensen Huang attends the Taipei Computex Expo on May 29, 2023 in Taipei, Taiwan. (I-Hwa Cheng/Bloomberg via Getty Images/Getty Images)
Mr. Hwang’s current net worth ranks him at No. 21 on Bloomberg’s ranking of the world’s richest people.
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| ticker | safety | last | change | change % |
|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 790.22 | +4.84 | +0.62% |
Nvidia on Wednesday reported fourth-quarter revenue of $22.1 billion, a 265% increase from a year ago. ((Photo Credit: Jakub Porzycki/NurPhoto via Getty Images) / Getty Images)
Huang has run Nvidia as CEO since co-founding the technology company more than 30 years ago. Mr. Hwang reportedly has a tattoo on his arm with a design similar to the company’s logo.
NVIDIA: Is the stock price perfect?
The company’s market capitalization exceeded $2 trillion during trading on Friday.
FOX Business’ Eric Revell contributed to this report.
