Wednesday, April 3, 2024

g-f(2)2176 The AI Gold Rush: Meet the New Billionaires Riding the AI Wave

 


genioux Fact post by Fernando Machuca and Claude



Introduction:


The article "The Billionaires Getting Rich From AI 2024" by Phoebe Liu from Forbes highlights the AI gold rush that has led to a surge in the wealth of tech tycoons and the emergence of new AI billionaires. The AI boom has caused the stock prices of both public and private companies with ties to AI to skyrocket, making the world's tech tycoons even richer and pushing more than a dozen new AI billionaires onto Forbes' World's Billionaires list.



genioux GK Nugget:


"The AI gold rush has led to a surge in the wealth of tech tycoons and the emergence of new AI billionaires, with companies like Nvidia, Super Micro Computer, and OpenAI seeing their valuations soar." —  Phoebe Liu, Forbes, April 3 2024



genioux Foundational Fact:


The AI boom has caused the stock prices of both public and private companies with ties to AI to skyrocket, making the world's tech tycoons even richer and pushing more than a dozen new AI billionaires onto Forbes' World's Billionaires list. Companies like Nvidia, Super Micro Computer, and OpenAI have seen their valuations soar, with Nvidia's CEO Jensen Huang becoming one of the world's 20 richest people for the first time.



The 10 most relevant genioux Facts:




  1. Nvidia's stock price shot up nearly 300% over the past year, making CEO Jensen Huang one of the world's 20 richest people for the first time.
  2. Super Micro Computer's shares performed even better than Nvidia's, up more than 10-fold in the last year, making its cofounders Charles Liang and Sara Liu new billionaires.
  3. Advanced Micro Devices' CEO Lisa Su entered the billionaire ranks this year due to a 120% rise in AMD's share price.
  4. Cloudflare's shares went up 86%, making COO Michelle Zatlyn a new billionaire and boosting CEO Matthew Prince's fortune to $3.4 billion.
  5. OpenAI is worth some $80 billion-plus after a reported $10 billion investment from Microsoft last January.
  6. Notion cofounder and CEO Ivan Zhao and Figure founder and CEO Brett Adcock are new billionaires from AI startups.
  7. AI-centric startups raised nearly $50 billion in funding last year, according to Crunchbase.
  8. Legacy tech giants like Microsoft, Amazon, and Alphabet are investing heavily in AI startups to win the AI arms race.
  9. The AI bubble is starting to show some cracks, with Inflection AI abandoning its chatbot and its cofounders leaving for AI jobs at Microsoft.
  10. The article profiles nine new billionaires whose companies are tied to AI, including Charles Liang, Kwak Dong Shin, Shunsaku Sagami, Ivan Zhao, Brett Adcock, Lisa Su, Michelle Zatlyn, Sam Altman, and Harvey Jones.





Conclusion:


The AI gold rush has created a new class of billionaires and added to the wealth of existing tech tycoons. The surge in valuations of AI-related companies has been driven by the growing importance of AI in various industries and the race among tech giants to dominate the AI landscape. While the AI bubble is starting to show some cracks, the transformative potential of AI continues to attract significant investment and talent. As AI becomes increasingly integrated into our daily lives and businesses, the fortunes of those at the forefront of this technology are likely to continue growing.



REFERENCE

The g-f GK Article


Phoebe LiuThe Billionaires Getting Rich From AI 2024, Forbes, March 13, 2024.



Phoebe Liu


Phoebe Liu is a staff reporter at Forbes, where she writes about the world's richest people with a focus on the tech sector¹. She has covered a wide range of topics, including the impact of artificial intelligence on wealth, the fortunes of tech billionaires, and the profiles of new billionaires¹². Before joining Forbes, Liu studied statistics and data science¹. She can be reached via email or Signal, and she is also active on Twitter¹.


Source: Conversation with Bing, 4/5/2024

(1) Phoebe Liu - Forbes. https://www.forbes.com/sites/phoebeliu/.

(2) Tech Billionaires Have Added An Astonishing $750 Billion To ... - Forbes. https://www.forbes.com/sites/phoebeliu/2024/04/02/tech-billionaires-have-added-an-astonishing-750-billion-to-their-fortunes-over-the-past-year/.

(3) Phoebe Liu, Author at Forbes Australia. https://www.forbes.com.au/author/phoebe-liu-forbes-staff/.

(4) Phoebe Liu - Phoebe Liu-2 - Forbes. https://www.forbes.com/sites/phoebeliu-2/.

(5) Phoebe Liu’s Profile | Forbes Journalist | Muck Rack. https://muckrack.com/phoebe-liu.








Classical Summary:



In the Forbes article "The Billionaires Getting Rich From AI 2024," author Phoebe Liu discusses the recent surge in wealth among tech tycoons and the emergence of new billionaires in the artificial intelligence (AI) sector. The AI gold rush has led to skyrocketing stock prices for both public and private companies with ties to AI, resulting in the world's tech tycoons becoming even richer and pushing more than a dozen new AI billionaires onto Forbes' World's Billionaires list.

The article highlights several notable examples, such as Nvidia CEO Jensen Huang, who joined the ranks of the world's 20 richest people for the first time after Nvidia's stock price shot up nearly 300% over the past year. Other companies like Super Micro Computer, Advanced Micro Devices, and Cloudflare also saw significant increases in their stock prices, creating new billionaires like Charles Liang, Sara Liu, Lisa Su, and Michelle Zatlyn.

Private AI companies have also experienced tremendous growth, with AI-centric startups raising nearly $50 billion in funding last year. OpenAI, valued at over $80 billion, is the largest of these startups. The article also mentions new billionaires from AI startups, such as Notion cofounder and CEO Ivan Zhao and Figure founder and CEO Brett Adcock.

Legacy tech giants like Microsoft, Amazon, and Alphabet are heavily investing in AI startups to win the ongoing AI arms race. However, the AI bubble is starting to show some cracks, with examples like Inflection AI abandoning its chatbot and its cofounders leaving for AI jobs at Microsoft.

The article profiles nine new billionaires whose companies are tied to AI, showcasing the diverse range of industries and applications that AI is transforming. As AI continues to reshape various sectors and attract significant investment, the fortunes of those at the forefront of this technology are likely to continue growing, although the sustainability of the AI boom remains to be seen.



The categorization and citation of the genioux Fact post


Categorization


This genioux Fact post is classified as Breaking Knowledge which means: Insights for comprehending the forces molding our world and making sense of news and trends.



Type: Breaking Knowledge, Free Speech



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References


genioux facts”: The online program on "MASTERING THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)2176, Fernando Machuca and Bard (Gemini)April 2, 2024, Genioux.com Corporation.


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