Nvidia CEO Jensen Huang Says He Does Not Mind Paying $8 Billion in California Taxes

Nvidia CEO Jensen Huang said he does not mind paying what he called his "big" tax bill to California and doubled down on his decision to live in the state. Speaking at the Milken Institute Global Conference in Beverly Hills, Huang addressed the proposed billionaire tax.

He stated that he accepts the roughly $8 billion in taxes paid to California. The remarks came during a gathering of global leaders focused on innovation, trends shaping society, and where capital can be deployed for impact. Attendees noted a down day in markets along with developments in the Iran conflict and questions about how the AI revolution will unfold.

With the Beverly Hilton under construction, limited seating and networking space created a crowded environment in the lobby. " Discussions reflected optimism about investing in emerging economies. The group CEO of a Dubai-based telecom and digital services provider highlighted data production in Pakistan and economic engagement in Bangladesh, expressing a positive outlook for the latter country of nearly 180 million people.

An asset management executive was reported to be increasing investments in the Middle East. Attendees also shared mixed perspectives on China, with some praising its cars, clarity of mission, optimistic population, and partnerships with U.S. allies while treating electricity, water, and AI as basic household utilities.

GameStop made an unsolicited $56 billion offer to acquire eBay, representing a 20% premium. The bid aims to combine the companies in a way that could create significantly more value, though some market views hold that eBay may fare better on its own as its turnaround progresses.

Anthropic formed a partnership with Blackstone, Hellman & Friedman, and Goldman Sachs to launch an AI-native enterprise services firm backed by roughly $1.5 billion. The venture seeks to integrate Claude into operations of mid-sized companies. Greg Abel presided over his first Berkshire Hathaway annual meeting as CEO.

Attendance was lower than in previous years, but one participant said concerns about the leadership transition had been resolved.

500 futures rose 0.32% in morning trading after the prior session closed down 0.41%. The STOXX Europe 600 gained 0.53% while the U.K. FTSE 100 fell 0.94%. Markets in Japan, South Korea, and China were closed, with Hong Kong's Hang Seng down 0.76% and India's NIFTY 50 off 0.29%. Bitcoin traded near $80,000.