Nvidia CEO Jensen Huang’s personal fortune has surged to an estimated $120 billion, up from $80 billion a year ago, as demand for the company’s artificial intelligence chips continues to drive a sharp rally in its stock.

Nvidia shares rose 5.6% on Tuesday to close at \$129.93, pushing the company’s market valuation past the \$3 trillion mark. The latest boost came after Nvidia reached an agreement to sell hundreds of thousands of its high-performance AI chips to Saudi Arabia, including a large portion to a new AI startup backed by the kingdom’s sovereign wealth fund.

The deal highlights the sustained global appetite for Nvidia’s cutting-edge processors, which have become central to the rapidly expanding AI industry.

The agreement was announced during former U.S. President Donald Trump’s visit to the Gulf region, beginning with Saudi Arabia and expected to include the United Arab Emirates later in the week.

Huang, who co-founded Nvidia in 1993, has been instrumental in transforming the company from a graphics chipmaker into a dominant player in the AI semiconductor space. His strategic leadership has helped position Nvidia as one of the world’s most valuable tech companies.

With his net worth now at \$120 billion, Huang ranks just outside the top ten on Forbes’ real-time list of the world’s richest individuals.