Jensen Huang, the CEO of Nvidia, had a $3 billion interest in his company five years ago. With the stock hitting a new high on Thursday, his holdings now total more than $90 billion.

Late on Wednesday, Nvidia released first-quarter profits that above projections, citing a third consecutive quarter of revenue increases of more than 200% due to the demand for artificial intelligence chips.

In addition, Huang gave investors a better-than-expected projection and said the business expects an endless market for its AI graphics processing units, or GPUs. The business implied that its clients, particularly the large cloud computing firms, would receive a good return on their costly chip investment.

“We are fundamentally changing how computing works and what computers can do,” Huang said.

Huang has more than 3.5% of Nvidia’s outstanding shares, or around 86.76 million shares. His investment gained over $7.7 billion in value as the stock surged over 9% on Thursday, closing at around $1,038 per share.

Nvidia’s stock tripled in 2023 and has since more than quadrupled this year. In the last five years, they have increased around 28 times. In 2022, before the AI boom, Huang increased his holding in shares of the company.

In 1993, Huang (sixty-one) established the Silicon Valley business to produce GPUs for 3D gaming. For many years, Nvidia’s primary business was gaming, but it has now expanded into other areas, such as cloud gaming subscriptions, the metaverse, and cryptocurrency mining processors.

But when OpenAI published ChatGPT in late 2022 and made generative AI more widely known, Nvidia’s fortunes took a sharp turn. The research demonstrated a day when computers would be able to produce original material and respond to queries from enormous caches of unsorted data, in addition to retrieving fresh information from databases.

The majority of OpenAI’s AI research is done on Nvidia GPUs. As other businesses increased their research and development expenditures in artificial intelligence (AI), including Microsoft, Google, and Meta, they need billions of dollars’ worth of the newest AI processors to complete their models.

As the company’s main sales representative and face, Huang has never stopped praising the strength and promise of using Nvidia’s GPUs to create artificial intelligence.

After more than ten years of creating AI tools and software, Nvidia found itself in a strong position to overtake its competitors as the largest provider to the IT industry. Huang is one of the richest persons in the world, and the business now has around 80% of the market for AI processors.

(Adapted from CNBC.com)