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Nvidia sheds almost $600 billion in market cap, biggest one-day loss in U.S. history [View all]
https://www.cnbc.com/2025/01/27/nvidia-sheds-almost-600-billion-in-market-cap-biggest-drop-ever.htmlNvidia
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 chipmaker’s stock price plummeted 17% to close at $118.58. It was Nvidia’s worst day on the market since March 16, 2020, which was early in the Covid pandemic. After surpassing Apple last week to become the most valuable publicly traded company, Nvidia’s drop on Monday led a 3.1% slide in the tech-heavy Nasdaq.
The selloff was sparked by concerns that Chinese artificial intelligence lab DeepSeek is presenting increased competition in the global AI battle. Late last month, DeepSeek unveiled a free, open-source large language model that it says took only two months and less than $6 million to build, using reduced-capability chips from Nvidia, called H800s.
Nvidia’s graphics processing units (GPUs) dominate the market for AI data center chips in the U.S., with tech giants like Alphabet , Meta , and Amazon spending billions of dollars on the processors to train and run their AI models. Analysts at Cantor wrote in a report on Monday that the release of DeepSeek’s latest technology has caused “great angst as to the impact for compute demand, and therefore, fears of peak spending on GPUs.”
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The chipmaker’s stock price plummeted 17% to close at $118.58. It was Nvidia’s worst day on the market since March 16, 2020, which was early in the Covid pandemic. After surpassing Apple last week to become the most valuable publicly traded company, Nvidia’s drop on Monday led a 3.1% slide in the tech-heavy Nasdaq.
The selloff was sparked by concerns that Chinese artificial intelligence lab DeepSeek is presenting increased competition in the global AI battle. Late last month, DeepSeek unveiled a free, open-source large language model that it says took only two months and less than $6 million to build, using reduced-capability chips from Nvidia, called H800s.
Nvidia’s graphics processing units (GPUs) dominate the market for AI data center chips in the U.S., with tech giants like Alphabet , Meta , and Amazon spending billions of dollars on the processors to train and run their AI models. Analysts at Cantor wrote in a report on Monday that the release of DeepSeek’s latest technology has caused “great angst as to the impact for compute demand, and therefore, fears of peak spending on GPUs.”
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