Topline

Shares of Nvidia rose more than 3% on Monday morning, putting the chipmaker’s stock on track to an all-time high as it nears an intraday high, with the company once again poised to become the world’s most valuable company, before Apple.

Key facts

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Huang’s fortune grew by $3.8 billion on Tuesday, making him the 11th richest person in the world with a net worth of $121.5 billion, according to our latest estimates. The CEO of Nvidia, who owns about 861 million shares, has never been among the ten richest people in the world and trails former Microsoft CEO Steve Ballmer ($123.7 billion). Huang, who has been CEO and president of Nvidia since he co-founded the company in 1993, has seen his net worth increase by about $102 billion since 2019, when he was the 546th richest.

Important background

A sell-off in Nvidia shares in recent months has been erased after the company surpassed Microsoft and Apple in June to become the world’s most valuable company. The drop came amid a delay for the company’s Blackwell chip, which was reportedly caused by technical issues, although Morgan Stanley analysts said last week that orders for the chip are now “fully booked” for next year. Last month, Huang boasted that demand for Nvidia products was “so high,” while suggesting customers were “excited” to purchase them. Analysts expected Nvidia to report revenue of $125 billion and net income of $67 billion for the fiscal year ending in January, FactSet shows.

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ForbesNvidia is now the most valuable company in the world, ahead of Microsoft and AppleBy means of Antonio Pequeno IV