Tech Giants Suffer Major Losses as Nvidia Faces Record Stock Plunge

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A significant selloff in the technology sector occurred on Monday, driven by the challenging market position of Nvidia. The company's market value plummeted by $600 billion, marking the largest loss in U.S. stock market history. This decline led to a major impact on the fortunes of top tech executives, including Nvidia CEO Jensen Huang, whose net worth fell by nearly $21 billion, dropping him from the 10th to 17th position in global wealth rankings.

The tech sector collectively lost approximately $94 billion, as shares of various companies, including Oracle and Tesla, also experienced steep declines. Oracle Chairman Larry Ellison recorded the highest loss among billionaires on that day, seeing a decrease of $27.6 billion in his wealth.

The selloff was triggered following DeepSeek's announcement of a low-cost AI solution, prompting fears of increased competition in the AI market. Despite these challenges, analysts suggest that the demand for premium AI hardware remains robust, indicating that the market reaction may have been an overreaction. As high-profile companies prepare to report their fourth-quarter earnings, investors will be closely monitoring their AI strategies amid a backdrop of market volatility.

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