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The Guardian - US
The Guardian - US
Technology
Edward Helmore

Tech billionaires lost almost $100bn in stock market selloff sparked by DeepSeek

DeepSeek Jensen Huang Nvidia Stock Market Michael Bloomberg Michael Dell Alexandr Wang Ann Wang Meta Microsoft
A middle-aged man in glasses looks pensive.
Nvidia CEO Jensen Huang was the big loser in Monday’s tech-stock bloodbath. Photograph: Ann Wang/Reuters

DeepSeek’s cut-price challenge to US AI dominance, which wiped $600bn in Nvidia’s market value on Monday and caused the tech-weighted Nasdaq index to drop 3%, also took a bite out of the fortunes of some of the world’s wealthiest men.

Nvidia’s record stock plunge, judged to be the biggest market value drop in US stock market history, according to Bloomberg, took with it $20.7bn of its CEO and biggest individual shareholder, Jensen Huang.

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