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Nvidia Stock Price Colossally Crashes After New DeepSeek AI Model Emerges
Nvidia remains one of the world's largest companies by market cap, but the chip-maker is having a tough day on the stock market today. The company's share price slid by nearly 17% today, wiping out more than $500 billion in market cap. Should this hold through the end of the trading day, it would be far and away the biggest single-day trading loss for a company in history. Nvidia's previous $279 billion one-day dip is the existing record-holder.Why is Nvidia stock tanking? The stock price had been surging for the past two years as investors felt bullish on the company's fortunes due to excitement in the market about artificial intelligence. Nvidia sells the necessary GPUs to train large-language models and for general AI use, after all.But at the end of last week, Chinese AI start-up DeepSeek launched a new model, R1, that the company claims is far cheaper than other models out there, including Open AI's o1. The fear from investors, it seems, is that AI companies may not actually require as much computing power as it was once believed. This, in turn, could have spooked investors and sent Nvidia's stock price down.Continue Reading at GameSpot
Nvidia remains one of the world's largest companies by market cap, but the chip-maker is having a tough day on the stock market today. The company's share price slid by nearly 17% today, wiping out more than $500 billion in market cap. Should this hold through the end of the trading day, it would be far and away the biggest single-day trading loss for a company in history. Nvidia's previous $279 billion one-day dip is the existing record-holder.
Why is Nvidia stock tanking? The stock price had been surging for the past two years as investors felt bullish on the company's fortunes due to excitement in the market about artificial intelligence. Nvidia sells the necessary GPUs to train large-language models and for general AI use, after all.
But at the end of last week, Chinese AI start-up DeepSeek launched a new model, R1, that the company claims is far cheaper than other models out there, including Open AI's o1. The fear from investors, it seems, is that AI companies may not actually require as much computing power as it was once believed. This, in turn, could have spooked investors and sent Nvidia's stock price down.Continue Reading at GameSpot
