Nvidia is having a bit of a moment.
This week kicked off with the AI chipmaker’s stock having its worst day in months, before it rebounded on fourth-quarter revenue that was up almost 270% and soared well above Wall Street’s expectations. Now Nvidia has again surpassed Google and Amazon to become the third most valuable company in the U.S., with a market capitalization of about $2 trillion.
And perhaps no one is benefitting more from Nvidia’s explosive rise than Jensen Huang, the co-founder, president and CEO of the Santa Clara, Calif.-based company. The multi-billionaire’s net worth is currently valued at $69.2 billion, according to the Bloomberg Billionaire Index, buoyed by a cool $9.6 billion gained just from Nvidia’s stock rise this week.
For perspective, as of Feb. 23, 2023, Huang’s net worth was valued at a mere $21.8 billion, according to Bloomberg’s tally. That means Huang has gained about $47.4 billion in wealth in just one year. In February 2018, when Bloomberg first added Huang to its index, he was worth $3.84 billion.
But it’s unlikely Huang’s wealth — or Nvidia’s success — will stop there, according to some analysts.
“The company is printing money at this point,” Bernstein analysts wrote in a note Thursday. “And the prospect for continued growth from here still seems solid.” The firm raised its price target for Nvidia stock to $1,000 per share.
Analysts from Goldman Sachs likewise raised their price target, albeit to a more modest $875 per share, pointing to “sustained growth in Gen AI infrastructure spending” and the increased adoption of artificial intelligence by companies, including those in the automotive industry.
Nvidia on Wednesday touted its work with several hundred companies in the auto world, including Tesla, Mercedes-Benz and Hyundai Motor Co. The tech giant sees driverless-cars as the future of the industry, despite a slew of regulatory troubles, public outcry and outright failures.