New York:

Prime Minister Narendra Modi today convened a high-profile roundtable with top American technology CEOs, focusing on innovation, collaboration, and India’s growing tech space. The meeting, held at the Lotte New York Palace Hotel, was part of PM Modi’s three-day visit to the United States, with its second leg in New York. 

Hosted by the Massachusetts Institute of Technology (MIT) School of Engineering, the roundtable saw participation from leaders of companies specialising in artificial intelligence, quantum computing, semiconductors, and biotechnology.

The roundtable was attended by prominent CEOs like Google’s Sundar Pichai Nvidia’s Jensen Huang and Adobe’s Shantanu Narayen.

In a post on X (formerly Twitter), Prime Minister Modi said, “Had a fruitful roundtable with tech CEOs in New York, discussing aspects relating to technology, innovation, and more. Also highlighted the strides made by India in this field. I am glad to see immense optimism towards India.”

Had a fruitful roundtable with tech CEOs in New York, discussing aspects relating to technology, innovation and more. Also highlighted the strides made by India in this field. I am glad to see immense optimism towards India. pic.twitter.com/qW3sZ4fv3t

— Narendra Modi (@narendramodi) September 23, 2024

The Ministry of External Affairs (MEA) said in a statement that the roundtable focused on cutting-edge sectors, including Artificial Intelligence (AI), quantum computing, biotechnology, and semiconductor technologies.

“The CEOs participated in a deep dive with Prime Minister on the evolving technology landscape at a global level and how these cutting-edge technologies are contributing to the well-being of people around the world including in India. They touched upon how technology is being leveraged for innovations, which have the potential to revolutionize the global economy and human development,” the MEA said in a statement. 

On Artificial Intelligence (AI), the Prime Minister stressed that India’s policy is to promote ‘AI for All’, underpinned by its ethical and responsible use.

PM Modi also reassured the CEOs of India’s strong commitment to protecting intellectual property and fostering a conducive environment for technology-led innovation. He encouraged the business leaders to capitalise on India’s growth trajectory, pointing to the nation’s potential to become the third-largest economy globally.

The meeting also explored opportunities to invest in India’s burgeoning startup ecosystem, where innovations in technology are accelerating. Startups were seen as a crucial bridge for American companies to enter the Indian market and contribute to creating new technologies and solutions.

MIT Professor Anantha Chandrakasan, who chaired the session, thanked PM Modi and the participating CEOs for their contributions. He affirmed MIT’s ongoing commitment to using technology for global good and advancing collaboration between the United States and India in critical technology sectors.
 

Nvidia Corps.’s chief executive Jensen Huang has become the 11th richest person in the world, as per Forbes’s real-time billionaire list. 

Mr Huang added over $4 billion to his net worth in a single day on Tuesday, June 18. It happened after Nvidia became the world’s most valuable public company, riding on an artificial intelligence-driven surge. 

The company’s shares climbed over 3% on Tuesday, June 18, taking Mr Huang’s net worth to nearly $119 billion.

Nvidia shares have more than doubled this year after growing threefold in 2023. The shares have been up by nearly 28 times in the past five years.

Jensen Huang, who was ranked the 546th-richest person in the world in 2019, has added over $114 billion to his net worth in the last 5 years, as per Forbes. His net worth surged over 2250% during the period.

The Nvidia boss was ranked the 76th richest person in the world with a net worth of $21 billion at the end of 2023.

The 61-year-old tech executive derives his net worth from a 3.5% stake in Santa Clara, California-based Nvidia. Mr Huang co-founded the computer chip company back in 1993 with Chris Malachosky and Curtis Priem. He has occupied the chair of Nvidia’s chief executive and president since its inception.

The tech giant went public in 1999 and has surged in trading in recent years. 

Last month, Nvidia became the first computer chip company to hit $3 trillion in market capitalisation, surpassing Apple Inc. Nvidia recently executed a stock split that cut Nvidia’s share price below $130 after trading above $1,200.

Nvidia controls an ecosystem of hardware and software solutions that rivals are trying to replicate, thanks to its dominant market share for the high-end accelerator that trains AIs. The company has laid out an ambitious plan to upgrade its AI accelerators annually. 

Tesla’s Elon Musk retained his position of the world’s richest with a net worth of $214.1 billion followed by Jeff Bezos at number two and Bernard Arnault & family at the third spot.