Nvidia’s latest move higher comes as AI server makers Super Micro Computer and Hon Hai tout continued demand for AI hardware. Even the CEO of Microsoft is boasting on social media about how quickly his company is adopting Nvidia’s latest chips.

In fact, Nvidia CEO Jensen Huang believes AI infrastructure spending will top $1 trillion over the next five years, and his company is likely to be the biggest winner because it has a dominant market share in the GPU space.

The head of the chipmaker and investor favorite said in an interview on CNBC Wednesday that demand for the company's AI chips is "insane."

Nvidia CEO Jensen Huang endorses nuclear energy as a sustainable solution for meeting AI's surging energy demands.

So, more and more AI customers gave Nvidia a try, and these days powerhouses from Meta Platforms to Amazon have flocked to the company. Oracle co-founder Larry Ellison even said recently that he and Tesla chief Elon Musk actually "begged" Huang for more GPUs.

Huang, 61, is the world’s 11th-richest person with an estimated net worth of $116.2 billion, according to Forbes’ Real-Time Billionaires List. Huang’s fortune has increased by about $102 billion since 2019, when he was ranked the 546th-richest.

Nvidia’s (NVDA) next-generation artificial intelligence chip is in full production, and demand for it is “insane,” according to CEO Jensen Huang.