From TLDR 2025-01-28
NVIDIA SHEDS ALMOST $600 BILLION IN MARKET CAP, BIGGEST ONE-DAY LOSS
IN U.S. HISTORY (4 MINUTE READ) [14]
Nvidia experienced the biggest market cap drop for any company on a
single day in US history on Monday when it lost close to $600 billion
in market cap. Its stock price plummeted 17% and caused a 3.1% slide
in the tech-heavy NASDAQ. The sell-off was sparked by DeepSeek
presenting increased competition in the global AI industry. The
Chinese AI lab released a free and open source large language model
that only took two months and less than $6 million to build using
Nvidia H800s. The release has caused investors to rethink spending on
compute.
[14]
https://www.cnbc.com/2025/01/27/nvidia-sheds-almost-600-billion-in-market- cap-biggest-drop-ever.html?utm_source=tldrnewsletter
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