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Economic Times
31 minutes ago
- Economic Times
Nvidia CEO Jensen Huang sells shares worth $36 million, net worth nears Buffett
Jensen Huang, Nvidia's CEO, has sold company shares worth $36.4 million. This sale is part of a prearranged trading plan. Synopsis Nvidia CEO Jensen Huang has sold $36.4 million worth of his company's shares, adding to previous sales under a prearranged trading plan. This move comes as Huang's wealth approaches Warren Buffett's due to Nvidia's success in the AI hardware market. Despite the sales, Huang still holds a significant number of Nvidia shares. Nvidia CEO Jensen Huang has sold shares of the chipmaking giant worth approximately $36.4 million, further trimming his holdings in the company he co-founded. The move comes as Huang's soaring net worth places him in close proximity to legendary investor Warren Buffett in global wealth rankings. ADVERTISEMENT According to CNBC reports, the latest transaction involved 225,000 shares and was part of a broader trading plan adopted in March, which allows Huang to sell up to six million shares of Nvidia through the end of 2025. He had earlier sold a separate tranche in June worth around $15 million under the same arrangement. Last year, Huang had divested nearly $700 million worth of shares under a similar prearranged plan. Following the most recent disclosure, Nvidia shares rose by about 1% in Friday trading, CNBC tech executive's wealth has surged alongside Nvidia's meteoric rise as a leader in the artificial intelligence hardware space. The company's GPUs have become indispensable for training and running large language models, fueling massive demand from both enterprises and per CNBC, Huang's net worth has jumped by over $29 billion just in 2025 so far, marking a gain of more than 25%. Bloomberg's Billionaires Index estimates his fortune at $143 billion, placing him nearly neck and neck with Berkshire Hathaway chairman Warren Buffett, who stands at $144 billion. ADVERTISEMENT The company itself has hit record-breaking milestones in recent months. CNBC noted that Nvidia became the first U.S. firm to cross a $4 trillion market capitalization earlier this week, surpassing tech giants Microsoft and Apple in the his ongoing stock sales, Huang continues to hold over 858 million Nvidia shares, both directly and indirectly through various partnerships and trusts. ADVERTISEMENT Also read: Use market dips to build portfolios; these 8 sectors have high growth potential: Alok Agarwal (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
34 minutes ago
- Time of India
West Bengal gears up for rare earth mining in Purulia
West Bengal is set to join India's rare earth mining map with the Geological Survey of India (GSI) conducting advanced exploration in Purulia district , a senior official said on Friday. Although the rare earth deposit in Purulia is relatively small, the development is significant as India looks to reduce dependence on imports of critical minerals essential for electric vehicles (EVs), electronics, and renewable energy technologies . "G2-level exploration is underway in two blocks - one in Karbi Anglong district of Assam and the other in Purulia, West Bengal," GSI Director General Asit Saha said on the sidelines of the Assocham-organised 3rd edition of Minerals and Mining conclave. He added that these blocks are expected to be ready for auction within a year. The G2 stage represents an advanced level of exploration, providing a fairly high degree of confidence in the resource estimation. Upon completion, the findings will be submitted to the respective state mines departments and the Union Ministry of Mines for further action, Saha said. While GSI has not identified specific rare earth elements in these locations yet, Saha said the deposits typically consist of a "basket of 14-17 rare earth minerals," making the extraction and processing technically challenging. He noted that India has discovered promising vanadium deposits - another critical mineral - in the lower Himalayan belt. "We have very good vanadium resources in the Himalayan region, which are essential for energy storage and alloy production," Saha said. According to him, nearly 50 per cent of ongoing early-stage exploration projects in the country are focused on rare earth elements, reflecting their growing strategic importance. However, operationalisation of mines faces challenges, including land acquisition issues, environmental clearances, and lack of private sector interest. Separately, Union Heavy Industries Minister H D Kumaraswamy on Friday announced that the central government will soon launch a Rs 1,345 crore scheme to boost manufacture of rare earth magnets domestically. These magnets are critical components in electric motors used in EVs, wind turbines, and defence applications. India is also actively pursuing lithium exploration , with 20 projects spread across four to five states, officials said. PTI
Business Standard
36 minutes ago
- Business Standard
Wealthtech platform InvestValue Fintech eyes $5 Million fund-raise to power NeoFinDesk
Mumbai, July 4, 2025: AI-powered wealth tech platform InvestValue Fintech Pvt Ltd is in talks with investors to raise $5 million by end of this year. The funds will be used to revolutionise its product, NeoFinDesk, which is a multi-issuer marketplace designed to connect financial product issuers and distributors. Over the last three years, InvestValue Fintech has served wealth institutions, brokers, family offices, and wealth distributors. Along with Business Intelligence, adding cutting-edge features to NeoFinDesk will further enable its scale. NeoFinDesk offers a virtual product desk, real-time portfolio analytics, product benchmarking, compliance automation, and distributor enablement—all under one roof. InvestValue Fintech plans to add innovative AI-driven features to further improve customer engagement. Through these changes, InvestValue Fintech aims to get a bigger share of India's wealth management market even as Assets under Management (AUM) are projected to grow from $154 bn in FY24 to $331 bn by FY32. AIFs alone are clocking 30%+ CAGR. Founded in 2021, InvestValue Fintech was bootstrapped for 36 months with in-house tech, product, and research. Over the last three years, InvestValue has clocked Rs 100+ crore in revenue and has been PAT positive since FY22. It is also repaying its $1 million debt from internal profits and gearing up for the next growth phase. It will also launch PMS & CAT II AIFs via Invest Value Capital. 'From being bootstrapped to becoming a driving force in India's wealth tech revolution, the journey of Invest Value reflects the power of perseverance and innovation. Witnessing multifold growth in partner acquisitions and transactions validates the commitment to empowering wealth professionals and making structured finance accessible to a wider audience. We are now at an inflection point in our journey to become one of the most effective wealth management platforms,' said Tushar Bopche, Cofounder and CEO, InvestValue Fintech Pvt Ltd. InvestValue Fintech helps 40+ institutional and 500+ distribution partners manage their wealth via the platform. It also has offices in Gurgaon, Mumbai, Noida, Hyderabad, Ahmedabad, and Kolkata. The company's primary goal is to transform the wealth management domain with technology, innovation, and intellect, using the digital wave. Its offerings are based on inclusivity and simplicity.
