Nvidia CEO Jensen Huang’s net worth surged to approximately $120 billion on Tuesday, up from $80 billion a year ago, driven by booming demand for the company’s artificial intelligence chips and a sharp rise in its share price.
The semiconductor giant’s market value soared to $3 trillion after it secured a major deal to supply hundreds of thousands of its advanced AI chips to Saudi Arabia. A large portion of the chips will be delivered to Humain, a newly launched AI firm backed by the kingdom’s sovereign wealth fund.
The agreement, announced during U.S. President Donald Trump’s Gulf tour, reinforces Nvidia’s leadership in the global AI hardware market.
Shares of Nvidia closed 5.6% higher at $129.93 following the announcement, further cementing the company’s status as one of the world’s most valuable firms.
Huang, who has led Nvidia since its founding, is widely credited with transforming the company into the dominant player in AI semiconductors. His rising fortune places him just outside the world’s top ten richest individuals, according to Forbes’ real-time billionaire rankings.
