and posted in Technology
Artificial Intelligence Is Minting Billionaires

Nvidia co-founder Jensen Huang’s wealth has surged as a blistering rally in AI-related stocks pushed the chipmaker’s market value above Amazon’s for the first time..

The same rise was the reason for the emergence of another billionaire in the Huang family, who is his cousin Lisa Su, CEO of Advanced Micro Devices, a competitor to Nvidia, which has a market value of $1.2 billion after the value of its shares doubled during the year. last year.

The presence of two chip billionaires in one family shows the obsession with artificial intelligence, which has come to dominate the stock market and accounts for most of the wealth acquired by the world’s richest people this year.

“Nvidia” enhances artificial intelligence investments with new stakes in 3 companies

Of the 500 richest people, at least 30 of them earned part of their wealth thanks to companies tracked by the Bloomberg Global AI Index. These holdings have boosted their net worth by $124 billion so far this year, representing 96% of the total wealth acquired on the Bloomberg Billionaires Index.