You probably heard the news last month that microchip producer Nvidia – which is the world leader in artificial intelligence – became the most valuable company on the planet for a time last month. It surpassed Microsoft and Apple. These three tech companies keep trading the lead and each has a market cap of above $3 trillion.
This one company is worth more than most of the countries in the world. It was founded 30-some years ago in Santa Clara, CA by Jensen Huang, an engineer from Taiwan who still serves as CEO
At least one-third of America’s top tech companies were founded or cofounded by legal immigrants – including Intel and Google among hundreds of others. A recent study found that among the next generation of startups – the billion-dollar companies that have not yet gone public – 55% were founded or co-founded by legal immigrants.
This is just another useful reminder that legal immigration is America’s greatest comparative advantage.