Liang Wenfeng hires young people and bookworms for his engineering team. He says: "Experience is not that important."

Mostly known only in gaming and crypto circles a few years ago, Nvidia burst into the zeitgeist after seeing its sales surge because customers wanted its chips to train their chatbots and other artificial intelligence products.

Nvidia became a household name as its stock more than tripled in 2023 and then more than doubled in 2024. Investors and analysts lauded CEO Jensen Huang as the “Godfather of AI.” Nvidia grew into a $3 trillion-plus behemoth and traded places with titans like Apple to become the most valuable company on Wall Street.

The changes mark the first major test of whether chief executive Brian Niccol can dig the company out of its first annual sales decline since the pandemic hit in 2020. Part of his plan involves persuading Americans to once again view Starbucks as the go-to place to hang out.

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The company's stock price has similarly soared, and its total market value quickly passed rivals like Intel, Microsoft and others. Nvidia alone accounted for more than a fifth of all of the S&P 500 index's total return last year. No other stock came close, and it had more than triple Apple's impact.

Stay up to date on the latest headlines in today's Sunrise Smart Start for Tuesday, January 28, 2025. DeepSeek could represent Nvidia CEO Jensen Huang’s worst nightmare

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Jensen Huang and Nvidia both saw their values hit hard Monday as investors digested the impact of Chinese AI company DeepSeek.

Huang's net worth fell from $121 billion to around $100 billion, per the Bloomberg Billionaires Index.

Jensen Huang's damaging comments about quantum computing caused major turbulence for the Berkeley-based Rigetti Computing's stock. But that's not the end of the story.

Huang, who cofounded Nvidia in 1993, owns roughly 3.4% of the company, according to Bloomberg. Indeed, the tech giant took a bit of a stumble yesterday, losing around $600 billion in market cap as shares plummeted by 17%. The manufacturing chip company is falling from great heights; this past summer, it surpassed a $3 trillion market cap.