The AI market was rocked this week as DeepSeek launched its R1 model, which claims superior performance to OpenAI's technology at just 3% of the cost. That news sent NVIDIA stocks plummeting and caused the stock of several tech giants to drop. The most significant loss was seen by NVIDIA, which dropped at least $500 billion in market value in a day. That figure could easily soar higher and set records that NVIDIA likely does not want to be a part of. NVIDIA stock fell over 15% by the early afternoon and the effects of DeepSeek's announcements extend to other tech giants as well.
NVIDIA's massive loss would easily be the most a company has lost in market value in a single day, but we'll have to wait until the end of trading to see which records are set. NVIDIA already holds the record for market loss in a day, having lost $279 billion in value on September 3, 2024.
