Nvidia’s chief executive Jensen Huang earned $4.2 billion overnight, bringing his fortune to $46.1 billion thanks to his software company’s earnings, which crushed Wall Street’s e…
Nvidia’s chief executive Jensen Huang became $4.2 billion richer overnight after his software company crushed Wall Street’s second-quarter earnings expectations by billions, sending its stock surging by as much as 10% in aftermarket trading on Wednesday.a record revenue of $13.51 billion for the latest quarter ended July 30, up 88% from the first quarter and a whopping 101% from the same period in 2022.
Huang established Nvidia in 1993 on his 30th birthday to bring three-dimensional graphics into the gaming and multimedia markets. The California-based company’s chief financial officer, Colette Kress, said on an earnings call with investors that Nvidia “had an exceptional quarter,” noting that its $13.51 billion in revenue beat both Wall Street’s $12.6 billion estimate and the company’s own $11 billion prediction.
The data center earnings also crushed analyst estimates of $7.69 billion by more than $2 billion, according to Refinitiv data. Nvidia’s AI chips are already used by providers like Amazon, Alibaba and Microsoft — companies that run some of the largest cloud-computing services out there.
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