Nvidia CEO Jensen Huang experienced a significant decline in his net worth, plummeting from $121 billion to approximately $100 billion, translating to nearly a 20% loss. This followed a market sell-off sparked by the Chinese AI startup DeepSeek, which saw success with its free chatbot app topping the US App Store. Nvidia shares fell by nearly 17%, and the day's downturn resulted in a combined loss of $108 billion among the world's wealthiest individuals. DeepSeek's advances raised concerns about diminishing demand for expensive AI hardware like Nvidia's GPUs, with Nvidia affirming the necessity of its technology for AI model operation.
Huang's net worth fell from $121 billion to around $100 billion, marking a nearly 20% loss after DeepSeek triggered a tech sell-off.
Nvidia shares plunged by nearly 17% on Monday, leading to a $600 billion loss in market value, though they later saw a slight recovery.
DeepSeek's ascent with its free chatbot app raised concerns about reduced demand for hardware, as their models are cheaper yet perform effectively.
Nvidia described DeepSeek's work as an 'excellent AI advancement' showcasing test-time scaling which could impact how current AI models are developed.
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