TradingKey - On Tuesday, NVIDIA (NVDA) shares surged on news that H20 chip sales to China had resumed, climbing as high as $172.4 intraday before closing at $170.7, up 4.04% —setting another record high and pushing the company’s market value to approximately $4.17 trillion.

(Source: TradingKey)

According to Forbes’ real-time data, NVIDIA CEO Jensen Huang’s net worth surged $5.7 billion in a single day, bringing his total wealth to $148.6 billion, surpassing LVMH chairman Bernard Arnault to rank sixth globally.

His net worth has grown to over $25 billion year-to-date, driven by NVIDIA’s dominance in global AI and computing infrastructure and surging demand for its chips.

Huang visited China again on July 16 for the China International Supply Chain Expo, where he emphasized China’s significance in global AI development, stating that China holds roughly half of the world’s AI researchers and a rapidly growing AI industry. He noted that U.S. companies must establish a strong presence in China to advance AI collaboration and development.

Huang added that China hosts numerous AI startups, with all major cloud service providers active in the market. Alibaba performed exceptionally well in Q1, and Tencent also delivered strong results. On July 15, Alibaba (BABA) closed at $116.97, up over 8% in a single day, following news that H20 chips would re-enter the Chinese market.

Loop Capital analyst Ananda Baruah raised NVIDIA’s price target from $175 to $250, stating the company sits at the forefront of the generative AI "gold rush." If computing demand continues exploding, NVIDIA’s valuation peak could hit $6 trillion.

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