Nvidia‘s share price surged over 3% on Tuesday, propelling the chipmaker to become the world’s most valuable company, surpassing tech giant Microsoft. The chip giant’s market capitalization is now $3.335 trillion (₹278 lakh crore). Since the start of the year, Nvidia’s share price has surged up over 180%.
What Happened: This massive rally has propelled the company’s CEO Jensen Huang to become one of the wealthiest people in the world. The tech billionaire has also taken over Reliance Industries‘ Mukesh Ambani and Adani Group chairman Gautam Adani.
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Huang is now worth around $119 billion (₹9.92 lakh crore), as per the Bloomberg Billionaires Index. Ambani and Adani, on the other hand, are worth around $113 billion (₹9.42 lakh crore) and $108 billion (₹9 lakh crore) respectively. The 61-year-old American has seen his net worth grow by around $75 billion (₹6.25 lakh crore) this year. He is now the 12th richest person on the planet followed by Ambani and Adani at number 13 and 14.
The incredible rally in the stock has been driven by the company’s growing influence through its chips in the AI space. Last month, Nvidia reported a net profit of $14.9 billion (₹1.24 lakh crore), with its revenue reaching $26 billion (₹2.17 lakh crore).
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