DeepSeek's success cost Elon Musk $90 billion this year. Mark Zuckerberg, Jensen Huang lost
The meteoric rise of DeepSeek, a Chinese AI startup, has wiped out $94 billion from the fortunes of top tech billionaires. Elon Musk suffered the most, losing $90 billion, followed by Nvidia’s Jensen Huang ($20 billion) and Meta’s Mark Zuckerberg ($11 billion), Fortune reports.
DeepSeek’s cutting-edge AI model, which rivals OpenAI at a fraction of the cost, triggered a $600 billion market value drop for Nvidia—one of the largest stock declines in U.S. history, according to Bloomberg.
Despite the losses, Huang praised DeepSeek, calling it an "excellent innovation" that has "ignited global enthusiasm." Meanwhile, tech giants like Meta, Amazon, Google, and Microsoft remain undeterred, set to invest $320 billion in AI and data centers, CNBC reports.
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