Nvidia sheds almost $600 billion in market cap, biggest one-day loss in U.S. history
Publishing timestamp: 2025-01-27 21:08:17
Summary
Nvidia shares plunged 17% on Monday, resulting in a market cap loss of close to $600 billion, the biggest drop ever for a U.S. company. The sell-off was sparked by concerns about increased competition from Chinese AI lab DeepSeek, leading to a significant drop in tech sector stocks. DeepSeek's advancements in AI technology have raised fears of peak spending on GPUs, causing a massive sell-off in the market. Despite analysts recommending buying Nvidia shares, the company's stock price plummeted, leading to a significant loss in market value and impacting CEO Jensen Huang's net worth.
Sentiment: NEGATIVE
Tickers: DELL, NFLX, MSFT, ORCL, META, HPE, AMZN, SMCI, GOOGL, AVGO, NVDA, AAPL, CVX, KO,
Keywords: nvidia corp, business news, donald j. trump, artificial intelligence, hewlett packard enterprise co, amazon.com inc, apple inc, alphabet inc, china, generative ai, coca-cola co, united states, technology, broadcom inc, breaking news: technology, stock markets, dell technologies inc, chevron corp, netflix inc, microsoft corp, meta platforms inc, oracle corp, super micro computer inc,
Source: https://www.cnbc.com/2025/01/27/nvidia-sheds-almost-600-billion-in-market-cap-biggest-drop-ever.html