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What will be the most significant factor affecting global tech stock performance by the end of 2025?
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Nvidia Shares Plunge 12%, Losing $420 Billion Market Cap After China's DeepSeek Unveils AI Model
Jan 27, 2025, 10:41 AM
Nvidia shares have plunged over 12% in premarket trading, erasing more than $420 billion in market capitalization and putting the company on track for the largest single-day market cap loss in history. The decline comes after China's DeepSeek unveiled a free, open-source large-language AI model in late December, developed in just two months at a cost of under $6 million. DeepSeek's rapid advancement has raised questions over AI-related capital expenditures, challenging US dominance in AI, and sparking a global tech sell-off. The Nasdaq dropped 4% pre-market, with other tech stocks, including Meta, Microsoft, and chip equipment maker ASML—whose shares fell as much as 11%—also experiencing sharp declines. Broadcom shares also tumbled. Nvidia's potential $333 billion loss surpasses its previous record of $279 billion.
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