Nvidia's Meteoric Rise: Jensen Huang Surpasses Bernard Arnault as the World's Sixth Richest Amidst Soaring Stock and AI Optimism

Nvidia's stock has hit another record high, leading to a significant rise in the wealth ranking of its CEO, Jensen Huang. On Tuesday, Huang's net worth surpassed Bernard Arnault of LVMH, making him the sixth richest person globally. According to Forbes' real-time billionaire rankings, Huang's net assets increased by $5.7 billion on the day, reaching a total of $148.6 billion. Huang holds approximately 3% of Nvidia shares.

The surge in Nvidia's stock was bolstered by news that the U.S. government had approved the sale of H20 chips to China, alongside Nvidia's announcement to release the RTXpro GPU. This development comes after the U.S. imposed a ban in April preventing Nvidia from selling its H20 chips to the Chinese market. These chips are custom AI accelerators designed to comply with U.S. export restrictions.

Despite restrictions earlier this year, Nvidia's market position in artificial intelligence remains optimistic among analysts. The stock has gained over 23% year-to-date. Nvidia's market value has now reached approximately $4.17 trillion, surpassing Microsoft, Apple, and Amazon, solidifying its position as the most valuable company worldwide.

Huang also made headlines this week as photos emerged online during his visit to Beijing. Despite the sweltering temperatures of 35 degrees Celsius, Huang was seen donning his iconic leather jacket, leading to playful remarks from netizens about his apparent immunity to heat.

Analysts and investors continue to show great optimism in Nvidia's future prospects, especially in the artificial intelligence sector. Huang's recent announcements and the company's milestone market valuation reflect Nvidia's formidable presence in the industry. Nvidia's strong demand for AI accelerators globally indicates a promising revenue forecast for the upcoming quarters.