Nvidia CEO Jensen Huang lost nearly 20% of his net worth after Chinese AI upstart DeepSeek sparked a sell-off in AI-related stocks on Monday. Huang's net worth fell from $121 billion to around $100 billion,
Jensen Huang and Nvidia both saw their values hit hard Monday as investors digested the impact of Chinese AI company DeepSeek.
NEW YORK – The world’s 500 richest people, led by Nvidia co-founder Jensen Huang, lost a combined US$108 billion (S$145 billion) on Jan 27 as a tech-led sell-off tied to Chinese AI developer DeepSeek sent major indexes plunging.
A Chinese company’s claim of a $5.6 million artificial intelligence breakthrough wiped almost $600 billion from Nvidia’s market value on Monday, shattering Wall Street’s confidence that tech companies’ AI spending spree will continue and dealing an apparent blow to US tech leadership.
Nvidia CEO Jensen Huang Huang said he will be celebrating Lunar New Year with employees.
Meanwhile, a slew of other tech executives including Elon Musk, Jeff Bezos and Mark Zuckerberg are reportedly set to attend the events on Monday.
The recent AI advances by Chinese upstart DeepSeek could be the beginning of a potential nightmare scenario that Nvidia Corp. Chief Executive Jensen Huang has been worrying about since the chip ...
The world’s wealthiest individuals, led by Nvidia Corp.’s co-founder Jensen Huang, saw their fortunes take a staggering hit on Monday,
Nvidia called DeepSeek’s R1 model “an excellent AI advancement,” despite the Chinese startup’s emergence causing the chipmaker’s stock price to plunge 17%.
Not only is Cramer interested in energy, but the President ran his election on the promise of increasing America’s oil production and requiring oil companies to drill more. However, the CEOs that he’s spoken to “are all saying listen, we’re going to hold.”
Despite the negative financial impact, Nvidia praised DeepSeek’s breakthrough. “DeepSeek is an excellent A.I. advancement and a perfect example of test time scaling,” a company spokesperson told Observer in a statement.