Nvidia Corporation NVDA CEO Jensen Huang has shared how a simple pick-up line in college led to his marriage and ultimately became part of his journey to building a $3.38 trillion AI chip company.
What Happened: During his address at the Hong Kong University of Science and Technology last month, Huang revealed that he met his wife, Lori Huang, at Oregon State University (OSU) when he was just 17.
Being the youngest student in the class, Huang leveraged his youthful appearance — hoping she would perceive him as intelligent — proposed a deal to her. "I walked up to her and I said, ‘Do you wanna see my homework?’"
He assured Lori that studying together every Sunday would guarantee her straight A's, effectively setting up a weekly "date."
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Later, at 20, Huang made a daring promise to Mills that he would become a CEO by 30.
“I had no idea what I was talking about,” Huang admitted while narrating the story. Five years later, they were married, and Huang co-founded Nvidia in 1993, becoming its CEO at 30, as promised.
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Why It Matters: Fast forward to 2024, Huang's company Nvidia currently boasts a market cap of approximately $3.38 trillion, making it the second most valuable company in the world after Apple Inc.
Last month, Nvidia reported third-quarter revenue of $35.1 billion earlier this month, a 94% increase from the previous year, exceeding the expected $33.12 billion.
For the fourth quarter, the company has forecasted revenue of around $37.5 billion, with a margin of plus or minus 2%.
Huang currently has a net worth of $120.7 billion, according to Forbes. He holds around 3% of Nvidia, the company which went public in 1999.
Price Action: Nvidia's stock increased by 2.15% on Friday, closing at $138.25. However, in after-hours trading, the stock dipped by 0.09% to $138.12. Year-to-date, Nvidia shares have skyrocketed by 187%, vastly outpacing the Nasdaq 100 index's 26.51% gain during the same timeframe, according to Benzinga Pro.
NVIDIA Corp has a consensus price target of $170.56 from 40 analysts, with a high of $220 set by Rosenblatt on Nov. 21. The latest ratings from DA Davidson, Phillip Securities, and Truist Securities suggest an average target of $154.67, indicating an 11.96% upside.
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