Nvidia's Huang just crashed out of the $100 billion club

Published On Sep 4, 2024, 4:02 PM

Nvidia CEO Jensen Huang's net worth dropped over $11 billion in just two days, causing him to fall out of the '100 billion club'. This significant dip was primarily due to Nvidia's stock price falling by 11%, attributed to a broader decline in chip stocks and a Department of Justice antitrust investigation. Despite this setback, Huang's wealth has increased by approximately $49 billion this year as demand for Nvidia's AI chips continues to soar, with the company's market value now at $2.61 trillion.

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The recent stock decline appears to be linked to external pressures, including the antitrust investigation and a broader market pullback. However, Nvidia remains a key player in the booming AI sector, and its long-term outlook remains strong due to high demand for its chips. Investors should consider the potential for recovery as the market stabilizes.

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