New Delhi, July 18 -- Nvidia CEO Jensen Huang's trademark black leather jacket has fetched $960,000 (approximately Rs.9.4 crore) at a Sotheby's auction, with the proceeds set to support a philanthropic initiative aimed at helping young innovators in technology and science.

The jacket, which had a pre-sale estimate of $40,000 to $60,000, sold for nearly 16 times its expected value, making it one of the most talked-about pieces at the auction.

According to Fortune, the proceeds will go towards an initiative organised by San Francisco-based venture capital firm Long Journey Ventures to benefit the Edge Institute, a nonprofit that brings together people working across technology, science, culture and society to collaborate on new ideas.

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