Rs 480000000000 earned in just 24 hours! This man's net worth witnessed MASSIVE spike due to..., he is not Mukesh Ambani, Adani Bezos, Musk, he is...
Larry Ellison is wealthier than Mukesh Ambani and Gautam Adani combined. (File)
New Delhi: Jensen Huang, the co-founder and CEO of Nvidia, has earned a whopping USD 5.54 billion (approximately Rs 48,000 crore) in just 24 hours. This massive profit has paved the way for him to join the elite club of the world's richest individuals. Notably, Nvidia's stock skyrocketed on Wednesday, setting a new record. According to the Bloomberg Billionaires Index, with a gain of USD 5.54 billion in 24 hours, Jensen Huang's total net worth has reached USD 135 billion. With this massive spike, Jensen Huang became the 11th most richest person in the world- just one step away from entering the elite top 10.
Currently, the 10th position is held by Sergey Brin, whose net worth stands at USD 146 billion. When did the stock skyrocket?
On Wednesday, Nvidia's stock saw a significant surge, shattering its previous record set in January. At the start of trading on Wednesday, Nvidia's shares climbed by more than 2.6 percent. It surpassed the earlier record of USD 149.43 set in January, opening at USD 149.28 and closing at a new high of USD 154.31 — marking a gain of over 4 percent. Why the surge?
According to the reports, the main reason behind the spike in Nvidia's stock is Micron's (MU) quarterly earnings report. What is Micron- All you need to know:
Micron is a company that manufactures high-bandwidth memory (HBM) chips, which are used in Nvidia's AI accelerators. Strong results from Micron signal robust demand for AI hardware. This boosts expectations of solid growth across the entire AI supply chain, including Nvidia. Company sets a new record
With the spike in the share, Nvidia has now become the world's most valuable company. The rally in its stock has pushed Nvidia's market value to USD 3.76 trillion, allowing it to overtake Microsoft, whose market value stands at USD 3.65 trillion.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
21 minutes ago
- Business Standard
Slice SFB aiming to close FY26 in black, not looking to raise any capital
Slice Small Finance Bank has turned profitable on a monthly basis and is aiming to close FY26 in the black, a top official has said. The entity, which came out of a surprising merger between the fintech Slice and the North East SFB a few months ago, is adequately capitalised and not looking to raise any capital, its executive director Rajan Bajaj told PTI. The current focus is to build a pan-India business using the low-cost digital channels, and the entity is not interested in any more mergers, Bajaj said, adding that it may look at transitioning to a universal bank in the next five years. Before the merger, the North East SFB had reported a loss of Rs 441 crore, and Slice was also reporting losses. "We have turned profitable post-tax on a monthly basis and will close the year in profits," Bajaj said. The bank is adequately capitalised and the buffers will also be supported by the profits, he added. As per recent media reports, the bank was aiming to raise up to USD 300 million in capital. It is adding up to 3 lakh new accounts to its base on the back of digital journeys, Bajaj said, pointing out that the savings bank interest rate offering is at par with the RBI's repo rate and the fixed deposit offerings are a notch higher, which is helping in attracting customers. The pace of account opening is the fifth or the sixth fastest in the industry and at par with much bigger rivals, he said. On the lending front, it does consumer credit including unsecured personal loans and business credit which includes loans against property, he said, stressing that the focus is on serving people who may be underserved by the banking system. Aiming for a big increase in its borrowers and loan portfolio, the bank launched a UPI-based credit card on Saturday, Bajaj said, pointing out that over 30 crore of UPI users can be the potential target audience for such an offering. The bank stands to make an interchange of up to 1 per cent depending on where the credit facility is availed, and will also make revenues from rollovers and fees, he said. Bajaj said its personal credit vertical has been able to deliver credit at a cost which is a tenth of the industry courtesy digital inputs, and added that the credit costs are also 30 per cent lower than the industry average because of the analytics engine which is used for diligence. The bank also launched a 'UPI-powered bank branch' in Bengaluru, which can be used by any bank's customers for a slew of transactions, including cash deposits into any account using cash accepting machine, and then remitting the money to any mobile number, Bajaj said.
&w=3840&q=100)
Business Standard
21 minutes ago
- Business Standard
RBL Bank eyes wider margin from retail, CV finance rollout in 3 months
RBL Bank is aiming to widen its net interest margins (NIM) from retail assets by shifting the portfolio mix towards higher-yielding assets, a senior official has said. As part of the same strategy, the private sector lender will launch a commercial vehicle (CV) financing and used 4-wheeler finance in the next three months. The increase in NIMs, which is being targeted at a time when the entire industry is facing challenges on this front, will be achieved while maintaining the retail share in the overall loan mix at around 31 per cent level, Kumar Ashish, its head of retail assets and collections, told PTI. Ashish, however, did not share the current NIMs of the retail business nor did he share an aspirational number. It had reported a sharp decline in the overall NIMs to 4.89 per cent as against 5.45 per cent, and the narrowing was one of the reasons along with setbacks in the MFI business for the 76 per cent drop in the Q4 net profit at Rs 86 crore. He said at the bank level, it is aiming for expanding NIMs to 5.1 per cent. In retail assets, the bank's focus relies on going deeper into tier-II and III cities, where the bank already has a distribution network courtesy its 550 branches and over 1,500 business correspondent touchpoints. After understanding the customer needs and tailoring the product mix, it will focus on quicker turnaround times for delivering credit in categories such as tractor finance, gold loans, homes loans, business loans and the upcoming businesses, he said. Admitting that RBL Bank is a "challenger bank" in many of the retail businesses and will be up against aggressive competition, Ashish said it will have to find new niche of customers whose needs are unfulfilled, use a lot digital inputs for loan underwriting, depend on quicker turnaround times and have a control over the costs to deliver on higher NIMs. Citing the case of home loans, he said the bank will focus more on the affordable housing segment while even in the soon-to-be-launched CV segment, it will go after demand from customers a notch under prime to expand margins. On the costs front, it is making best use of the existing staffing for doing more, pointing out that the talent across branches which was primarily focused on liabilities will now be doing retail credit as well. "We would have to gain market share in order to grow," Ashish, who joined the bank from Aditya Birla Capital recently, made it clear. The CV financing will be done to smaller players in smaller cities and the bank's tractor financing team will be used for distribution, he said. It is also looking to get into the used four-wheeler business, where it will be focusing on tie-ups with car reselling portals such that a customer is able to get a quote on the loan as well in a single journey after selecting his car on the website, Ashish said. Meanwhile, on the MFI business, Ashish said the collections have further improved since the late-April commentary and are getting better. The lowest point in collections was in December last, when the troubles for the industry started, he said, adding that since then the collections are steadily climbing up. Maintaining the earlier commentary, Ashish said the bank is "optimistic" about the MFI business and added that the second half of FY26 will be a better story. Tamil Nadu and Karnataka, the two markets where the bank faced issues because of political moves to introduce ordinances, continue to be challenging and the bank is reducing exposure there, he said. It has a low or negligible exposure in Bihar, which is headed to polls soon. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
India Today
26 minutes ago
- India Today
Canadian man stunned by Rs 19 lakh rent deposit for flat in Bengaluru
A Canadian man, currently living in Aizwal, seemingly planning to shift to Bengaluru, triggered discussion on social media after he called out the steep rental deposit system in the city's housing a now-viral post on X, Caleb Friesen shared a listing of a 3BHK flat in Bengaluru's upscale Diamond District, Domlur. While the monthly rent was listed at Rs 1.75 lakh, it was the security deposit - Rs 19.25 lakh - that shocked him the 19 lakh for security deposit! Absolutely bonkers what landlords are expecting these days. I could literally buy a new Mahindra Thar for less than this deposit,' he wrote in his post. Caleb also asked if anyone could help him find a place in or around Indiranagar with a 2-3 month deposit, keeping his rent budget between Rs 80,000 and Rs 1 lakh. See the post here:His reaction struck a chord as several Bengaluru residents flooded the comments section with their personal experiences and humour-laced takes on the rental market.'LOL. Unless they offer a butler, chef, and driver, this isn't good enough. If I pay, I want three daily massages, a hot shower, and AI playing music throughout the home. My entire home should be like Alexa. My bed should have AI providing minerals to my brain for sleep,' a user user compared the situation with Mumbai, saying, 'Glad this culture in Bengaluru real estate hasn't reached Mumbai. A landlord here asked Rs 5 lakh/month for a 4BHK with the standard 3-month deposit. The tenant offered 5 months' deposit to reduce rent to Rs 4 lakh/month. The landlord said no.'Others questioned whether renting even made financial sense anymore. 'This is why some finfluencers say buying houses is a waste of money. According to them, paying high amounts as interest-free security deposits is better than paying EMIs,' someone pointed of the users said: 'Totally insane, landlords acting like they're leasing out Mars, not a 2BHK in Indiranagar. 19L is a down payment, not a deposit.'See the comments here: Notably, this isn't the first time Caleb has made headlines for his social media posts. Earlier, he had shared a video comparing Bengaluru's chaotic traffic to the quiet streets of Aizawl, which also went post sparked more than just a chuckle. It reignited a longstanding debate on the affordability and fairness of urban housing norms, especially for tenants navigating major cities like has previously addressed the issue of India running out of affordable homes in a detailed article. Click here to read it. - EndsTrending Reel
