November 15, 2024
‘Bought a 100K car … all cash’ #NewsUnitedStates

‘Bought a 100K car … all cash’ #NewsUnitedStates

CashNews.co

Nvidia employees are becoming multimillionaires as they endure grueling, seven-day weeks at the office — and workers at rivals including Goole and Meta are green with envy.

One employee at Nvidia — the AI chipmaker whose stock surge this year has made it one of the world’s most valuable companies — took to Blind, the app where tech workers can post anonymously, and responded to a question from a Google worker who asked Nvidia engineers “how rich are you?”

“Bought a 100k family car in all cash and didn’t have to think about it,” the Nvidia worker wrote on the social media app.

Nvidia employees are the object of envy across Silicon Valley due to their newfound wealth. APNvidia employees are the object of envy across Silicon Valley due to their newfound wealth. AP

Nvidia employees are the object of envy across Silicon Valley due to their newfound wealth. AP

“Really depends on your level,” he wrote, adding that their net worth was “only around” $3 million though they “still have 3M unvested and very comfortable.”

In response, workers at rival tech firms — including Google and Meta, among the most prestigious in Silicon Valley — are admitting to their envy.

“The more I hear about Nvidia employees and their riches, the more jealous I feel,” a Meta employee wrote on the Blind app.

The Meta worker griped that “some people have to only work for like couple of years to build generational wealth while I need to work like forever to feel safe about retiring!”

Another Meta employee wrote on Blind that a neighbor who started at Nvidia five years ago as an entry level engineer was now worth $20 million.

An employee from another tech rival, Snap, took to Blind and wrote that he and his wife are worth $14.8 million at age 32.

But when compared to “old timer friends” at Nvidia, “every single one of them is worth over $25 million.”

“It’s nuts,” the Snap employee wrote on Blind.

Shares of Nvidia have soared by more than 3,700% in the last five years. REUTERSShares of Nvidia have soared by more than 3,700% in the last five years. REUTERS

Shares of Nvidia have soared by more than 3,700% in the last five years. REUTERS

The Nvidia employee who dished on his newfound wealth ended his post with: “Thanks JHH.”

“JHH” are the initials for Jen-Hsun “Jensen” Huang, the co-founder and CEO of Nvidia who is credited with steering the company and molding it into the world’s dominant maker of semiconductors used to power artificial intelligence.

Under Huang’s leadership, Nvidia’s stock has surged by more than 3,700% in the last five years.

Huang has also bragged about his reluctance to fire employees — instead opting to “torture them into greatness.”

Nvidia CEO Jensen Huang is credited with steering the company through a period of unparalleled success. AFP via Getty ImagesNvidia CEO Jensen Huang is credited with steering the company through a period of unparalleled success. AFP via Getty Images

Nvidia CEO Jensen Huang is credited with steering the company through a period of unparalleled success. AFP via Getty Images

Some current and former employees at Nvidia described a pressure-cooker environment that demands seven-day work weeks, long hours and frequent shouting matches and fights at meetings.

But employees decide to brave it all due to the “golden handcuffs” that the company places on them in the form of stock compensation packages that vest after four years — meaning that workers are free to exercise stock options once the vesting period ends.

The Post has sought comment from Nvidia.