Nvidia CEO loses over $20B in net worth after stock tanks

Nvidia CEO Jensen Huang saw his personal fortune tumble on Monday amid turbulence in U.S. tech stocks. His net worth hit $103.7 billion by the end of the trading day, marking a $20.8 billion drop, Forbes reported.The outlet, which tracks the fortunes of billionaires, linked the 11-figure decrease in his net worth to Nvidia’s stock falling 17% over the course of the day. Shares of Nvidia and other U.S. tech companies, particularly those with links to the artificial intelligence sector, fell on Monday after the popularity of Chinese AI startup DeepSeek raised concerns among investors over American dominance in the sector.CHINA'S DEEPSEEK DERAILS NASDAQ, NVIDIA, AI DARLINGSDeepSeek wrote in a paper last month that it trained its DeepSeek-V3 model with less than $6 million worth of computing power from what it says are 2,000 Nvidia H800 chips to achieve a level of performance on par with the most advanced models from OpenAI and Meta.Huang co-founded Nvidia over three decades ago and has a roughly 3% holding in the company, Forbes reported. GET FOX BUSINESS ON THE GO BY CLICKING HEREHuang’s current net worth ranks among the 20 largest fortunes in the world, according to the outlet. His net worth crossed the $100 billion mark for the first time in May of last year.WHAT IS THE CHINESE AI STARTUP DEEPSEEK?The company’s market capitalization hovered around $2.98 trillion as of Tuesday. FOX Business' Eric Revell contributed to this report.Weiter zum vollständigen Artikel bei FOX Business Weiter zum vollständigen Artikel bei FOX Business