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Nvidia Faces Record $600 Billion Market Cap Loss Amid Rising AI Competition

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1Nojor Desk
  • 28 Jan 25
  • 12:59 PM

Nvidia’s market cap plunged by nearly $600 billion, the largest single-day loss in U.S. history, as its stock fell 17% to $118.58. The drop was triggered by competition from China’s DeepSeek, which unveiled a cost-effective AI model. Concerns over declining GPU demand also impacted Broadcom, Dell, and Oracle. Analysts believe AI growth will boost compute demand long-term. Nvidia CEO Jensen Huang’s net worth dropped by $21 billion. DeepSeek’s app surpassed ChatGPT as the most-downloaded in the U.S., escalating the global AI race.

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CNBC 28 Jan 25

Nvidia sheds almost $600 billion in market cap, biggest one-day loss in U.S. history

Nvidia sheds almost $600 billion in market cap, biggest one-day loss in U.S. history Nvidia lost close to $600 billion in market cap on Monday, the biggest drop for any company on a single day in U.S. history. The sell-off was sparked by concerns that Chinese artificial intelligence lab DeepSeek is presenting increased competition in the global AI battle.

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