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Nvidia Collapses 17%; Single-day Mkt Cap Wipes off ~US$600B, Biggest Mkt Cap Loss in History
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2025/01/27 21:25 GMT
Nvidia (NVDA.US), the bellwether in AI chips, collapsed 18.2% once to bottom at US$116.7 on Monday after Chinese AI startup DeepSeek spooked panic in the market.

Nvidia eventually closed 17% lower at US$118.58, evaporating nearly US$600 billion in market cap in a single day, marking the biggest market cap drop in U.S. stock history.

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Nvidia led the decline among tech stocks, charting the company's biggest one-day slide since March 16, 2020.

DeepSeek had launched a free and open-source large language model (LLM) at the end of December, claiming a development time of merely two months and a cost of less than US$6 million, way less than its fellows.

And last week, DeepSeek had released an inference model that reportedly outperformed OpenAI's latest model in many third-party tests.

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