Nvidia CEO Jensen Huang's Net Worth Plunges $10 Billion In Record Loss (Image: X @nvidia)

The chip-giant Nvidia CEO Jensen Huang’s wealth has toppled to record loss after a fall in the chip stock and also as a result of the antitrust report sent to the tech firm summoned with a subpoena by the US Justice Department (DOJ). As per the reports, Huang’s net worth crumbled to a ballpark of $94.9 billion losing $10 billion on Tuesday. Bloomberg Billionaire Index tracked that it was the highest dollar plunge in a day for him. This dollar drop followed a 9.5% fall in the shares of Huang. However, the leading chipmaker Nvidia and its spokesperson didn’t respond to comment.

Since the US Department of Justice (DOJ) has escalated its investigation of antitrust complaints the company is struggling to maintain its lead as the regulators are concerned that Nvidia’s practices may hinder customers’ ability to switch to alternative suppliers. This would potentially penalise those who don’t exclusively use its artificial intelligence chips. However, even after the heavy stock fall on Tuesday, he has been considered the world’s 18th richest person as his wealth has grown by $51 billion year to date.

Also, read| Nvidia’s New AI Chip Delay May Affect Google, Meta And Other Giants: Report

Earlier in March, Nvidia announced and displayed its Blackwell chip series following the previous flagship chip, the Grace hopper Superchip which was focused on boosting generative AI applications. But the chip giant Nvidia addresses a three-month delay in the launch of its new AI chips due to design flaws, according to the reports.

This might affect Meta Platform, Alphabet’s Google and Microsoft as they are expected to purchase billion-dollar worth of AI chips collectively. The company has already informed their customers especially Microsoft and other major giants who provide cloud service some delay in the production of advanced AI chips.

Jensen Huang co-founded graphics chip maker Nvidia in 1993 and has served as its CEO and president. He owns at least 3% of Nvidia and the company became a dominant force in making gaming chips and then expanded its service designing chips for data centers.

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