Nvidia CEO loses $13 billion as intraday losses continue to extend, according to a report. Nvidia’s selloff is accelerating, with shares plummeting by as much as 15%, causing its market value to drop below $3 trillion, according to a Bloomberg report.
This sharp turnaround is a stark contrast to the stock’s performance earlier in January, when it was nearing record highs. Just weeks ago, Nvidia appeared poised to become the first company to hit a $4 trillion market value.
DeepSeek hit by outages
Chinese startup DeepSeek faced outages on its website Monday after its AI assistant surged to the top of the Apple App Store’s free app rankings in the United States.
The company quickly addressed issues related to its API and users’ login problems, as stated on its status page. The outages, which lasted the longest in about 90 days, coincided with the app’s rapid rise in popularity.
Driven by the DeepSeek-V3 model, which its developers claim “leads the open-source market and rivals top closed-source models worldwide,” the AI assistant has gained massive traction among U.S. users since its release on January 10, according to app analytics firm Sensor Tower.