Nvidia CEO Jensen Huang received a massive hike last year owing to strong demand for the company’s AI chips. The Nvidia cofounder got a $34.2 million compensation package for the fiscal year, the company’s annual proxy filing showed. The compensation is a 60% jump from the year before, when he got a salary of $21.4 million. His salary consisted of $26.7 million in stock awards, $4 million in cash bonuses and $2.5 million for other expenses.

Nvidia’s CEO Jensen Huang displays products on-stage during the annual Nvidia GTC Artificial Intelligence Conference at SAP Center in San Jose, California.(AFP)

This comes as Nvidia’s share price has sustained a rally as demand for the company’s chips remains high so much so that Jensen Huang assured analysts in his fourth-quarter earnings call that the company was allocating them “fairly.” The company has not yet reported its first quarter results but the demand for AI chips has made Nvidia’s share price triple in the past year. Following this, Nvidia has become the third-most valuable company in the world after Microsoft and Apple.

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Not only this, the surge in Nvidia’s share price has boosted the personal wealth of Jensen Huang who is now the 18th-richest man in the world, as per Bloomberg Billionaires Index. His fortune stands at $80.5 billion owing to his 3.8% stake in the company.

Meanwhile, the salary of Nvidia’s chief financial officer Colette Kress also rose by about 22% to $13.3 million last year. The median employee of the company took home $266,939 in fiscal 2024- 17% more than the year before.

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