Nvidia CEO Jensen Huang's personal net worth has surged to approximately $120 billion, a significant increase from $80 billion the previous year. This surge is attributed to the escalating demand for Nvidia's artificial intelligence chips, which has propelled a substantial rally in the company's shares.

Nvidia achieved a market value of $3 trillion following an agreement to sell hundreds of thousands of AI chips in Saudi Arabia. Many of these chips are destined for an AI startup backed by the country's sovereign wealth fund, indicating a continued high demand for Nvidia's top-tier processors. The company's shares closed 5.6% higher at $129.93.

Jensen Huang has been instrumental in establishing Nvidia as a dominant force in the AI semiconductor industry, thereby transforming it into one of the world's most valuable companies. The recent surge in his net worth places him among the wealthiest individuals globally, though just outside the top ten, according to Forbes' real-time billionaires list.

The deal in Saudi Arabia was part of US President Donald Trump's Gulf tour, which commenced in Saudi Arabia, with plans to visit the UAE later in the week.