AI Stock Rally This Year Boosts Wealth Of Richest Individuals In World

AI stock rally. (Photo: Reuters/Representative)

After Nvidia co-founder Jensen Huang’s wealth has surged on the back of a rally in artificial intelligence (AI) stocks, his distant cousin and competitor Advanced Micro Devices CEO Lisa Su has also witnessed a doubling of his wealth to $1.2 billion in a year.

According to a Bloomberg report, Su is not the only billionaire to emerge from the AI stock rally, Super Micro Computer co-founder Charles Liang’s wealth has tripled to $6.2 billion this year. The net worth of Palantir Technologies co-founder Alex Karp has also touched $2.8 billion after a 31 per cent surge in the company’s stock in a single day after strong quarterly results.

Many billionaires have also indirectly benefited from the AI stock rally, including SoftBank’s Masayoshi Son.

According to the Bloomberg Global Artificial Intelligence Index, 30 out of the 500 richest individuals attribute at least some of their fortune to companies tracked by the Index.

“Those holdings have boosted their net worth by a combined $124 billion so far this year, accounting for 96 per cent of the total wealth gained on the Bloomberg Billionaires Index,” the Bloomberg report said.