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,
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.
Nvidia CEO Jensen Huang believes data center operators will spend $1 trillion over the next four years on upgrading their infrastructure to meet demand from AI developers. Since the data center segment currently accounts for 88% of Nvidia's total revenue, that spending will be instrumental to the company's future success.
The American markets were spooked by the DeepSeek AI storm on Monday, January 27. While Dow Jones closed in green with minor gains, the tech-heavy Nasdaq closed with colossal losses of 612.47 points, or 3.07 per cent of its total value.
Quantum computing has the potential of being the next big innovation. At the right size and the right price, it might even be investable.
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%.
Jensen Huang and Nvidia both saw their values hit hard Monday as investors digested the impact of Chinese AI company DeepSeek.
The world’s wealthiest individuals, led by Nvidia Corp.’s co-founder Jensen Huang, saw their fortunes take a staggering hit on Monday,