Historic moment! Nvidia's market value surpassed Apple's to become the world's second, and Huang's net worth exceeded $100 billion

At 3:12 a.m. on June 6, 2024, the stock price of artificial intelligence chip giant NVIDIA (NVIDIA) soared to $1,222.99 at one point, with a market capitalization of $3.01 trillion, making it the world's second-largest company after Microsoft.
In after-hours trading, Nvidia shares continued to rise, at $1,237 per share at press time.
As the founder and CEO of Nvidia, Huang's worth has also risen. Huang owns about 86.76 million shares of Nvidia, or more than 3.5 percent of the company's outstanding shares. At current stock price estimates, Huang is worth $106.2 billion.
According to Forbes and Bloomberg's list of the world's richest people, Huang is currently ranked 13th. Some institutions predict that at this growth rate, Huang is expected to surpass Musk and become the world's richest man by next year.
Nvidia's surge is closely related to the recent announcement of the chip "annual update" plan and the stock split plan and other good news.
Three days ago, at Computex Taipei, Huang showed off the latest progress in three generations of GPUs, revealing that Blackwell chips have been mass-produced, and Blackwell Ultra, Rubin Ultra chips and new platforms will be released, so as to achieve a "once a year" product update rhythm and break Moore's Law.
Two weeks ago, Nvidia released a second-quarter revenue forecast that beat consensus expectations and announced a stock split plan (1-for-10). Since then, Nvidia's stock has risen nearly 20%.
Since OpenAI released ChatGPT at the end of 2022, a new wave of AI has emerged around the world, and it has finally pushed hardware computing power provider NVIDIA to the top of the wave.
Nvidia controls 70% to 95% of the global AI chip market, and its gross profit margin has reached a staggering 78%. Its rivals, Intel and AMD, reported gross margins of 41% and 47%, respectively, in the most recent quarter.
In 2023, Nvidia's stock price skyrocketed by 238.9%. Since the beginning of this year, Nvidia's market value has risen by another 150%.
Currently, Nvidia's market capitalization is only $150 billion away from Microsoft.