Soaring Energy Demand Mints China’s Newest Billionaire
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AI boom Fuels Rise of Energy Storage Billionaire Zhang Jianhui
3D rendering of energy storage systems
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The surging demand for energy to fuel the AI boom has boosted shares of energy storage maker Beijing HyperStrong Technology by almost 500% so far this year, and catapulted the company’s founder, Zhang Jianhui, into the billionaire ranks.
The 47-year-old,who is HyperStrong’s chairman and CEO,amassed a fortune of $2.1 billion that is largely based on his stake in the shanghai-listed company, according to Forbes estimates. His wife xu Rui,also 47,is vice manager at the company and indirectly holds a 1.1% company stake through an investment vehicle, according to stock exchange filings. Her shares are worth about 746 million yuan (about $105 million).
HyperStrong is benefiting from a burgeoning market for its products as development of AI-related technologies leads to soaring energy demand,Shen Meng,Beijing-based managing director of boutique investment bank Chanson & Co., says by WeChat.
Shen adds that HyperStrong is also riding on the contry’s renewable energy boom. As Beijing