Nvidia's Jensen Huang Gets 60% Pay Bump
By Ben Glickman
Nvidia Chief Executive and co-founder Jensen Huang received a 60% pay bump in the last fiscal year as his company's share price and revenue soared.
The chipmaker said in its annual proxy filing that Huang's compensation totals $34.2 million in the fiscal year ended in January, up from $21.4 million a year earlier.
Huang's stock awards were valued about $7 million higher than in fiscal 2023, and he received a $4 million cash bonus. He also was compensated $2.5 million for other various costs, including for residential security and consulting fees.
Nvidia's shares have increased more than threefold in the last year, and the company's revenues surged off the back of a boom in demand for artificial intelligence chips. Bonuses for executives are tied to certain financial metrics, including revenue and operating margin.
Compensation for Chief Financial Officer Colette Kress increased about 22% to $13.3 million for the last fiscal year.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
May 14, 2024 17:15 ET (21:15 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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