Nvidia CEO Jensen Huang has become the sixth-richest person in the world, as per Forbes’ estimates. This happened after Nvidia’s stock jumped to a record high on Tuesday. The rise came after the company announced that it would soon restart sales of its H20 AI chips in China. These sales had been on hold for months due to US government restrictions put in place during Donald Trump’s presidency.
Huang owns about 3% of Nvidia. According to Forbes, his total wealth is estimated to stand at $148.1 billion. With this, he is now richer than LVMH’s Bernard Arnault ($147.9 billion) and just behind Google co-founder Larry Page ($150.6 billion). Huang’s wealth went up by more than $5.3 billion in a single day thanks to the jump in Nvidia’s stock price.
Nvidia’s shares rose over 4% to more than $171 by mid-morning on Tuesday. The stock hit a record high of $172.40 earlier in the day and opened at a new high of $171.19. Because of this, Nvidia’s total market value jumped by $145 billion, reaching nearly $4.15 trillion. This has made Nvidia the most valuable company in the world, as in more valuable than Microsoft (with $3.7 trillion valuation), Apple (with $3.1 trillion valuation), and Amazon (with $2.3 trillion valuation).
Nvidia had in April this year warned that it could lose around $5.5 billion in sales after the US government restricted AI chip sales to China. Huang had then said that the $50 billion AI chip market in China was practically shut off to US companies.
But things seem to be changing. Earlier this month, Huang met with US President Donald Trump and Chinese officials in Beijing. Nvidia had on Monday said that the US government had promised to give the company all required licenses to sell its H20 chips in China. The shipments are now expected to begin soon.
The Amarnath Yatra has been suspended due to heavy rain and a weather advisory warning in Jammu and Kashmir. A woman pilgrim died and three were injured in a landslide. This is the first suspension from Jammu this year, with over 2.35 lakh pilgrims visiting since July 3. More than 4 lakh people have registered online for the pilgrimage, which will end on August 9.
