Meta CEO Mark Zuckerberg and Nvidia President Jensen Huang, along with a wardrobe swap and gushing praise, gave the tech industry a crossover no one needed.
But their collaboration goes deeper than Instagram photos, and their relationship is a pillar of the S&P 500.
Facebook founder Zuckerberg posted a photo of himself with chip giant Hwang on his social media app Instagram with the caption “Jersey swap.”
In the photo, Mr. Zuckerberg wore Mr. Huang's signature black leather jacket, while Mr. Huang wore Mr. Zuckerberg's brown and cream shearling coat.
With Mr. Zuckerberg's net worth of $175 billion and Mr. Huang's net worth of $79.5 billion, the post quickly captured the imagination of followers, racking up more than 151,000 likes within 24 hours of posting. Obtained.
Fans flooded with comments about the two's outfits, but the fanboying didn't stop there.
“He's like Taylor Swift, but in tech,” Zuckerberg, a father of three, said to one fan who didn't know Juan's true identity.
“Technology's Taylor Swift”
Swift has been dominating the news for the past year thanks to her “Ellas Tour.” 'love story' The singer became a millionaire and generated so much economic activity that Wall Street began to take notes on her activities.
Hwang is off to a great start to 2024 as well.
So far, Wall Street remains bullish on the outlook, with the company's stock up nearly 90% year-to-date.
Zuckerberg also hinted that this wasn't the last of the unexpected fashion interactions between the two.
Zuckerberg, who dropped out of Harvard University, responded to another comment, saying, “I bought Jensen a black shearling coat for his collection. I'll give it to him the next time I see him.”
There was also some tongue-in-cheek insight into what the two discussed in the comments section of “Zack's” Instagram page.
One user questioned whether the meeting was a purchase of Meta's H100 chips (Zuckerberg said in January that he was stocking up to a level of 340,000 by the end of the year).
But Zuckerberg replied, “We have plans for the B100.”
Nvidia's “Blackwell” B100 is an AI chip already in use at Amazon Web Services.
Why Zuckerberg and fan collaboration is important
The relationship between Meta and Nvidia is mutually beneficial.
First, Meta is widely reported to be one of Nvidia's biggest customers.
Zuckerberg said in January that his company was building a “massive computing infrastructure” and suggested it was spending billions of dollars a year on its H100 chips.
In an Instagram Reel post, it added that this includes 350,000 Nvidia graphics cards.
On eBay, the chips sell for up to $48,000, but analysts told CNBC they expect the business to sell directly for $25,000 to $30,000. Ta.
Hwang has also been outspoken about Meta's involvement in the AI race.
At the World Government Summit in Dubai earlier this year, Huang said: What has activated his AI researchers in this region is actually Llama 2. ”
Llama 2 is an open-source large-scale language model from Meta that is freely available for both research and commercial use.
And while Mr. Huang points to Meta's contributions to the field, Mr. Zuckerberg is confident in the supply of chips, which is a concern for many tech companies, and suggests that Wall Street has no interest in this business. It will also be possible to fulfill the promises of AI that have made us more trustworthy.
Zuckerberg's wealth has skyrocketed since he took a step back from his Metaverse dreams to focus on AI technology.
For Meta's largest individual shareholder, the combination of 2023's “Year of Efficiency” and making AI a company priority delivered nearly $40 billion in profits last year.
In fact, the term “AI” was used more than 80 times by Meta staff on a conference call in February, a move that proved to be a surefire way to pique investor interest.
Meta's stock price soared 20% in the hours following the announcement, driven by Zuckerberg and his team's positive image with analysts and their clear focus on emerging technology.
Support between the two men is at the top of the stock market. Both companies are two of the “Magnificent 7'' stocks, the superhuman stocks that have supported the S&P 500 in recent years.
This smooth relationship between the two companies has contributed to investor confidence and rising stock prices for both companies, with Meta having risen 42% since the beginning of the year. This means the multi-billion dollar bromance could go much deeper than Outwear.
