As before reported, the hype around the ChatGPT AI bot, released by OpenAI late last year, played into the hands of NVIDIA, whose shares have risen in price by 35% since the beginning of 2023. Thanks to this, the fortune of 59-year-old billionaire immigrant from Taiwan, NVIDIA CEO Jensen Huang (Jensen Huang), has grown this year by $ 4.6 billion, which is the largest increase since the beginning of the year among US billionaires.
Image Source: NVIDIA
According to rating of the world’s richest people in the Bloomberg Billionaires Index, Jensen Huang’s net worth increased by 33% this year to $18.4 billion, in stark contrast to last year’s trend, when his net worth was one of the largest among US tech giant executives, along with the head of Meta* Platforms by Mark Zuckerberg (Mark Zuckerberg).
NVIDIA, the world’s largest GPU manufacturer, has become the dominant player in the market for chips used to train and run artificial intelligence algorithms. This made the company’s shares one of the most promising investments for investors who want to profit from the growth in popularity of ChatGPT, in whose developer Microsoft Corporation plans to invest $10 billion. Citigroup estimates that growth in ChatGPT usage will boost NVIDIA sales by between $3 billion and $11 billion over 12 months.
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