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Jensen Huang lost 20% net worth after DeepSeek market rout

Jan 28, 2025 - businessinsider.com
Nvidia CEO Jensen Huang's net worth dropped by approximately $20 billion, or nearly 20%, after a sell-off in AI-related stocks triggered by Chinese AI startup DeepSeek. Nvidia's shares fell by nearly 17%, losing almost $600 billion in market value, though they later rose by 1.51% in after-hours trading. DeepSeek's free chatbot app topped Apple's US App Store, raising concerns about reduced demand for Nvidia's AI hardware due to DeepSeek's high-performing but cheaper models. Nvidia acknowledged DeepSeek as an "excellent AI advancement" and emphasized the continued need for Nvidia GPUs for AI model inference.

Other tech billionaires, including Oracle's Larry Ellison, also experienced significant losses, with the world's 500 richest people losing a combined $108 billion. Former President Donald Trump commented on DeepSeek's impact, calling it both a "positive" and a "wake-up call" for American tech companies. He also announced Stargate, a new AI joint venture involving OpenAI, SoftBank, Oracle, and MGX, which plans to invest up to $500 billion in AI infrastructure over the next four years.

Key takeaways:

  • Nvidia CEO Jensen Huang's net worth fell by about $20 billion due to a tech sell-off triggered by Chinese AI startup DeepSeek.
  • DeepSeek's free chatbot app topped Apple's US App Store, raising concerns about reduced demand for Nvidia's AI hardware.
  • Oracle co-founder Larry Ellison also experienced a significant net worth decline, losing $22.6 billion.
  • President Donald Trump highlighted DeepSeek's models as a "wake-up call" for American tech companies and announced a new AI joint venture called Stargate.
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