The AI gold rush is in full swing, with tech companies seeing their share prices skyrocket and creating new billionaires in the sector. Nvidia cofounder and CEO Jensen Huang saw his net worth soar after his company’s stock price shot up nearly 300% over the past year. Other companies like Super Micro Computer, Advanced Micro Devices, and Cloudflare also experienced significant growth, making their founders new billionaires. Privately owned AI companies have also taken off, with OpenAI leading the way with a reported $10 billion investment from Microsoft last year.
Legacy tech giants like Microsoft, Amazon, and Alphabet have been investing heavily in AI, hoping to win the ongoing AI arms race. However, there are concerns about the sustainability of the AI bubble, as evidenced by the struggles of Inflection AI, which recently abandoned its chatbot project. Despite this uncertainty, AI-related companies continue to attract funding and reach new heights. This trend has led to the emergence of several new billionaires in the AI sector, including founders and CEOs of companies like Notion, Figure, and Cloudflare.
Among the new AI billionaires is Charles Liang, the cofounder of Super Micro Computer, which has seen its stock price increase more than 1,100% over the past year. Hanmi Semiconductor’s CEO Kwak Dong Shin and M&A Research Institute founder Shunsaku Sagami have also joined the billionaire ranks thanks to the AI boom. Notion cofounder Ivan Zhao and Figure founder Brett Adcock have seen their net worth increase significantly due to the success of their AI-focused companies.
Lisa Su, the CEO of Advanced Micro Devices, has led the struggling semiconductor firm to great success in the AI market, making her a new billionaire. Michelle Zatlyn, the COO of Cloudflare, has also seen her net worth rise after the company’s shares went up 65% in the past year. OpenAI CEO Sam Altman, despite not having equity in the company, has become a billionaire through his network of venture investments. Additionally, Harvey Jones, a longtime tech investor and entrepreneur, has seen his fortune rise after benefiting from Nvidia’s stock price surge.
The surge in values for both public and private companies with ties to AI has led to a flurry of new billionaires in the sector. This trend is driven by the increasing demand for AI technology and the significant investments being made by tech companies. While there are concerns about the sustainability of the AI bubble, the AI market continues to attract funding and create wealth for entrepreneurs and investors in the sector. As the AI gold rush continues, more individuals are expected to join the ranks of AI billionaires in the future.
