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Nvidia CEO’s Net Worth Plunges $18 Billion as Stock Continues to Fall
Nvidia CEO Jensen Huang’s net worth dropped $18 billion on Monday as the company’s stock experienced a sharp decline. As of Monday morning, Huang’s net worth was recorded at $106.3 billion, a 15% decline from the previous day, according to the Forbes Real-Time Billionaires list. Huang holds an approximately 3% stake in Nvidia.
The company’s stock fell 16% to around $120 per share, causing its market capitalization to drop by more than $465 billion to $2.97 trillion. This represents the largest single-day decline in market value for a company, surpassing the previous record set in September.
The decline has put Nvidia below Apple and Microsoft, making it the third-most valuable company in the world. Just last week, Nvidia surpassed Apple to become the world’s most valuable company.
The decline is part of a broader sell-off in the technology sector, with global technology stocks experiencing a sharp drop. Other major chip stocks, including ASML, Broadcom, Super Micro Computer, Micron, and Taiwan Semiconductor Manufacturing Co., also fell.
The sell-off was prompted by the announcement last week by Chinese artificial intelligence startup DeepSeek, which launched a model rivaling OpenAI’s ChatGPT and Meta’s Llama 3.1 built using lower-capability chips from Nvidia. This has raised concerns that other companies may move away from Nvidia’s premium offerings.
Analysts at Wedbush note that while the threat from DeepSeek is perceived, it is not yet a cause for concern, as U.S. companies remain ahead of the curve in achieving the next frontier of AI development, artificial general intelligence (AGI).