NVIDIA's (NVDA, Financial) stock price has surged, significantly boosting CEO Jensen Huang's net worth by nearly $25 billion this year. The company's stock reached an all-time high, closing with a market capitalization of $3.88 trillion and briefly surpassing $3.9 trillion. This achievement positions NVIDIA as the world's most valuable company, overtaking both Microsoft and Apple.
The U.S. stock market saw gains, driven by stronger-than-expected non-farm employment data, which eased recession fears. According to the Bloomberg Billionaires Index, Jensen Huang's net worth has increased to $139 billion, ranking him tenth globally. Analysts, including Dan Ives from Wedbush Securities, predict that NVIDIA and Microsoft could become the first companies to reach a $4 trillion market cap this summer.
The optimism around NVIDIA is largely fueled by the global artificial intelligence boom, where NVIDIA plays a pivotal role due to its dominance in the graphics processing unit (GPU) sector. On Thursday, NVIDIA's stock rose 1.33% during regular trading but dipped 0.056% in after-hours trading. Year-to-date, the stock has risen 15.20%, with a 24.21% increase over the past 12 months.
