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Nvidia hits $3 trillion, making CEO Jensen Huang richer than Michael Dell

Nvidia Corp.’s Jensen Huang has steadily risen in the ranks of the world’s richest as the market value of his computer chip maker reaches $3 trillion.

Huang reached another milestone on Friday, surpassing personal computer pioneer Michael Dell to become the world’s 13th richest person with a net worth of $106.1 billion, according to the Bloomberg Billionaires Index. His wealth has increased by more than $62 billion this year as demand for Nvidia chips used to power artificial intelligence tasks remains insatiable.

Huang, 61, is leading a new wave of tech billionaires as AI-powered “Jensanity,” as one analyst called it, takes over Silicon Valley. Other beneficiaries include Lisa Su, CEO of Advanced Micro Devices Inc., as well as Charles Liang of Super Micro Computer Inc.. Last month, Huang’s fortune surpassed each individual member of the Waltons, the richest family in United States, after another spectacular quarter from the chip maker.

Huang’s wealth stems from his 3.5% stake in Santa Clara, California-based Nvidia, which he co-founded in 1993 with Chris Malachowsky and Curtis Priem. Nvidia on Wednesday became the first computer chip company to reach $3 trillion in market capitalization, surpassing the value of Apple Inc., and on Friday it flirted with that benchmark again.

Dell, 59 and with a net worth of $105.9 billion, has been an outlier in the computer hardware industry among the tech super-rich, who often owe their wealth to software companies. Dell made much of his fortune through his eponymous company, which sells personal computers and servers.

Still, Dell Technologies Inc. has benefited from the recent success of AI, as corporations need servers and other infrastructure to use advanced Nvidia chips. Investors increasingly see Dell, along with Super Micro, as Nvidia’s partner of choice for this line of business.

In early March, Dell joined the small group of people with fortunes exceeding $100 billion when the company’s shares rose to a record high. The stock has since retreated after posting results that disappointed investors, reducing its founder’s wealth by nearly $12 billion in a single day.

Nvidia today controls an ecosystem of hardware and software solutions that its rivals, from AMD to Intel Corp., are trying to split or replicate, thanks to its dominant share of the market for high-end accelerators used to train AI.

And he has shown no signs of slowing down or letting his rivals catch up. Huang said the company plans to update its so-called AI accelerators every year.

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