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DeepSeek Billionaire Rout: Nvidia’s Huang And Oracle’s Ellison Lose Combined $48 Billion

  • Several billionaires lost significant wealth as DeepSeek disrupted the U.S. Stock market, with Nvidia CEO Jensen Huang losing $20.8 billion by market close.
  • Nvidia shares dropped 17%, resulting in a record loss of $589 billion in market capitalization.
  • Oracle Chairman Larry Ellison experienced a $27.6 billion loss, dropping from the third to the fifth richest person.
  • DeepSeek's AI model raised concerns about the future spending on generative AI technology by U.S. Companies.
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INTELLINEWS broke the news in on Sunday, January 26, 2025.
Sources are mostly out of United States (3)

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