Photo/Nvidia Weibo

On February 22, 2024, the global chip giant NVIDIA attracted the attention of investors worldwide. Its stock price soared 15% after the opening of the US stock market, closing at $785.38, up 16.4%, and approaching a market value of $2 trillion. Its market value increased by $273.3 billion (about 20 trillion yuan) overnight, equivalent to adding a whole Netflix or a whole Adobe, or nearly half of JPMorgan Chase or two Goldman Sachs.

NVIDIA’s fourth-quarter 2023 earnings report showed that its revenue was $22.1 billion, beating market expecataion of $20.41 billion. 

According to the Shanghai Securities News, NVIDIA said that generative artificial intelligence has reached a “tipping point”. “Demand from companies, industries and countries around the world is surging,” NVIDIA founder and CEO Jensen Huang said in a conference call.

Huang believes that driven by the strong artificial intelligence applications, including Sora, the industry’s hardware upgrade is still in its early stages. He expects that the entire industry will need about $2 trillion worth of NVIDIA chips in the future to meet the future computing power demand.

Jensen Huang is near entering the top 20 richest people in the world, thanks to a recent surge in Nvidia's stock price.

Huang's net worth jumped by $8.5 billion on Thursday to $68.1 billion. This puts him ahead of Charles Koch and Chinese bottled water magnate Zhong Shanshan on the Bloomberg Billionaires Index.

It's a remarkable rise for the Nvidia co-founder, who was ranked 128th on the list just a year ago with a net worth of $13.5 billion.