Jensen Huang started Nvidia at a Denny’s breakfast booth

Some people start businesses in their parents’ garages or basements. Others start theirs in college, building a clientele among fellow students.

Jensen Huang started his trillion-dollar tech company Nvidia while eating at a Denny’s restaurant in San Jose, California, he recently told CBS’ “60 Minutes.”

Nvidia, one of the chipmakers behind the burgeoning artificial intelligence industry, is currently worth $2.22 trillion, ranking it among the most valuable companies in the world. But in 1993, it was a business idea shared by three friends and engineers — Huang, Chris Malachowsky and Curtis Priem — who wanted to revolutionize gaming and media with 3D graphics.

In 1993, the trio met at the Denny’s location, Huang said. He was 30 years old, married and a father of two when inspiration struck him at the same restaurant where he once worked as a busboy at age 15, he added

“We came right here to this Denny’s, sat right back there, and the three of us decided to start the company,” said Huang, who remains Nvidia’s CEO today. “Frankly, I had no idea how to do it, nor did they. None of us knew how to do anything.”

From breakfast booth to booming business

By 1995, Nvidia had developed a low-cost computer processing chip called the NV1, according to the company’s website. This helped them snag a partnership with Sega to help make its games accessible on PC.

But the chip was a failure, too “technically poor” to render any significant level of graphics, Huang told graduating students in a May 2023 commencement speech at National Taiwan University.

The mistake nearly pushed the company into bankruptcy. Huang negotiated a contract buyout with Sega that provided Nvidia with a financial lifeline and resources to develop the NV1’s successor.

The new chip, called the RIVA 128, debuted in 1997 and quickly became a commercial success. By the 2010s, Nvidia was diversifying beyond the video game industry to laptop computers, automobiles, artificial intelligence and even cloud-based computing during the Covid-19 pandemic.

Nvidia shares have returned more than 500% since the start of 2023, Goldman Sachs reported last month.

The secret to Huang’s success

The billionaire CEO never anticipated that Nvidia’s diversification — driven by its development of a particularly powerful graphics processing chip — would prepare it for the age of artificial intelligence, he said.

“That was luck founded by vision,” said Huang. “We invented this capability and then one day, the researchers that were creating deep learning discovered this architecture. Because this architecture turned out to be perfect for them … Perfect for AI.”

That particular kind of optimism is a crucial factor to leading a successful life and career, according to cognitive neuroscientist Tali Sharot.

“Optimism changes subjective reality,” Sharot said in a 2012 TED Talk. “The way we expect the world to be changes the way we see it. But it also changes objective reality. It acts as a self-fulfilling prophecy. Controlled experiments have shown that optimism is not only related to success, it leads to success.”

As for Huang, the 61-year-old marveled at how a sit-down at Denny’s launched a tech giant, and said that dedication will take you far.

“This is the most extraordinary thing,” he said. “That a normal dishwasher busboy could grow up to be this. There’s no magic. It’s just 61 years of hard work every single day. I don’t think there’s anything more than that.”

Want to make extra money outside of your day job? Sign up for CNBC’s new online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories. CNBC Make It readers can use special discount code CNBC40 to get 40% off through 8/15/24.

Plus, sign up for CNBC Make It’s newsletter to get tips and tricks for success at work, with money and in life.

I live above a mall in Miami for $4,150/month: Take a look inside

Source link

Related Posts

European banks in Russia face ‘awful lot of risk’, Yellen says

U.S. Secretary of the Treasury Janet Yellen speaks while presiding over a meeting of the Financial Stability Oversight Council at the Treasury Department on May 10, 2024 in Washington, DC. …

Read more

What Porsche Teen’s Grandfather Told Driver After Crash

The crash that took place late on Saturday night left two young engineers dead Pune: The grandfather of the 17-year-old, whose late-night drunken drive in a Porsche, left two 24-year-old…

Read more

FDA panel votes against Novo Nordisk’s weekly insulin in type 1 diabetes patients

A view of the logo of Novo Nordisk at the company’s office in Bagsvaerd, on the outskirts of Copenhagen, Denmark, March 8, 2024.  Tom Little | Reuters Advisers to the…

Read more

Lok Sabha Election 2024 Phase 6: Delhi, Haryana Vote Today In Penultimate Phase: 10 Points

Lok Sabha Election 2024: Election will be completed in 486 of the 543 Lok Sabha seats today. New Delhi: Voting will take place in 58 seats across seven states and…

Read more

Stock market today: Live updates

Traders work on the floor of the New York Stock Exchange during morning trading on May 24, 2024 in New York City.  Michael M. Santiago | Getty Images Stocks ticked…

Read more

India Great Took Pay Cut To Work For BCCI, Now Reluctant To Apply For ‘Taxing’ Coach’s Job: Report

VVS Laxman‘s reluctance to become the Indian team’s head coach is an open secret but with the former batting stalwart’s stint as NCA’s ‘Head of Cricket’ ending in…

Read more

Leave a Reply