Nvidia's Jensen Huang Becomes World's 9th-Richest Amid Stock's Hot Streak
Nvidia shares rose again on Friday, adding to CEO Jensen Huang's net worth—now the world's ninth-largest—while pacing what would be the stock's fifth consecutive day in the green, as one analyst claimed the chipmaker's market cap could reach $4 trillion this summer.
One analyst suggests the world's largest company could reach a $4 trillion market cap this summer, ... More while another says $6 trillion is the peak. AFP via Getty Images
Nvidia's shares rose by more than 1.6% to over $157.60 as of around 1:10 p.m. EDT Friday, an increase of more than 10% since the stock opened trading on Monday at $142.50.
Huang's 3% stake in Nvidia, totaling more than 859 million shares, has increased by about $11.6 billion over the last five trading sessions, including Friday, which added about $3 billion.
Wedbush Securities analyst Dan Ives suggested in a note Friday that Nvidia and Microsoft will each hit a $4 trillion market cap this summer and $5 trillion over the next 18 months, as he referred to the companies as the 'poster [children]' of AI.
Nvidia ranks ahead of Microsoft ($3.7 trillion) as the world's largest firm with a $3.83 trillion valuation as of Friday.
On Wednesday, Loop Capital analyst Ananda Baruah wrote that Nvidia would be at the 'front-end' of the next 'Golden Wave' for generative AI that would propel Nvidia's market cap up to $6 trillion.
Huang's fortune is valued at $137.4 billion, making him the world's ninth-wealthiest person ahead of Alphabet cofounder Sergey Brin, according to our latest estimates. Big Number
81.7%. That's how much Nvidia's stock has increased in value since hitting a 52-week low of $86.62 on April 7, though shares are up just under 14% on the year. What To Watch For
How long Nvidia's win streak continues. Baruah raised his price target for Nvidia's stock to $250 from $175, above the average $173 forecast among Wall Street analysts, according to FactSet, as Baruah said he believed Nvidia would benefit from 'stronger-than-anticipated demand' for its products.
The latest winning streak for Nvidia follows concerns the company would be hit by President Donald Trump's tariffs and export controls on China. The U.S. imposed restrictions on Nvidia's H20 AI chips to China earlier this year, which Nvidia expected to total a $5.5 billion hit to sales through its current fiscal year. Huang, 62, said these restrictions would lock Nvidia out of a $50 billion China market and argued the export changes cut sales without a 'grace period.' Nvidia reported higher-than-expected earnings and revenue through its first quarter in May, as Huang told investors the 'global demand' for Nvidia's AI infrastructure was 'incredibly strong.' Forbes Nvidia's Jensen Huang Becomes $5 Billion Richer As Shares Hit Record High By Ty Roush
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