Day Trading Reports
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Day Trading Reports

Business

Nvidia loses nearly $600 billion in market value after Chinese AI startup bursts onto scene

by admin January 28, 2025
January 28, 2025
Nvidia loses nearly $600 billion in market value after Chinese AI startup bursts onto scene

Shares of chipmaker Nvidia plunged Monday, for its worst day since the global market sell-off in March 2020 triggered by the coronavirus pandemic.

The plunge came amid a global tech stock sell-off over fears about America’s leadership in the AI sector. Those fears were largely sparked by advances claimed by a Chinese artificial intelligence startup.

Shares of the chipmaker, one of the primary beneficiaries of the artificial intelligence boom in tech stocks, plummeted as much as 18%. That pushed Nvidia’s market value below $3 trillion. Still, shares of the firm are up more than 480% over the last two years.

The drop accounted for nearly $600 billion in lost market value though. It is the biggest market value drop in U.S. stock market history, according to Bloomberg. And nearly double the second worst drop in history, also seen by Nvidia shareholders in September 2024, when the company shed $279 billion in value.

For some perspective, the amount of market value lost by Nvidia on Monday is more than the entire market value of Exxon Mobil, Costco, Home Depot or Bank of America.

Due to the AI-fueled surge in mega-cap tech stocks, Nvidia catapulted into the top five most valuable companies in the world in 2023. The surge didn’t stop there, with the company soaring past Alphabet, Microsoft and the most valuable company in the world: Apple. At its most recent peak, Nvidia reached a towering $3.7 trillion.

With Monday’s losses, Apple has retaken the title of world’s most valuable company and Nvidia’s value sank to around $2.9 trillion.

Nvidia’s drop was also a drag on the Dow Jones Industrial Average, which finished the day higher but began the day in the red. Nvidia joined the prestigious 30-stock index in November, replacing rival chipmaker Intel. The Nasdaq Composite, which more closely tracks publicly traded tech companies, slid around 3%.

The global sell-off in tech stocks also meant the S&P Technology sector fell into the red for the year so far, the only sector lower over that time.

This post appeared first on NBC NEWS

previous post
South Korea’s president charged with insurrection over declaration of martial law
next post
Tech Stocks, Cryptocurrencies Pull Back as OpenAI Competitor DeepSeek Spooks Market

Related Posts

All Quiksilver, Billabong and Volcom stores to close...

February 7, 2025

Fox streaming service to be called Fox One,...

May 13, 2025

Levi Strauss to sell Dockers to brand management...

May 21, 2025

Home Depot earnings beat Wall Street estimates as...

February 27, 2025

Trump could scale back Canada, Mexico tariffs Wednesday,...

March 6, 2025

Consumers are not lovin’ it: McDonald’s has its...

May 2, 2025

California homeowners allege home insurance companies colluded to...

April 24, 2025

Some tariff concessions from Canada and Mexico touted...

February 7, 2025

Sports bar chain Twin Peaks is going public....

February 1, 2025

Amazon’s Nova AI agent launch puts it up...

April 1, 2025

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      Forum Energy Metals and Global Uranium Announce Exploration Update on Drill Targeting, Northwest Athabasca Project, Saskatchewan

      January 31, 2025
    • 2

      Mega M&A: Rio Tinto-Glencore Merger Sparks Chatter

      January 28, 2025
    • 3

      Excellent 90% recoveries at Cork Tree Well & Board Update

      February 17, 2025
    • 4

      Financial Agreement signed releasing $2M grant

      January 23, 2025
    • 5

      Netflix shares soar as company reports surging revenue, tops 300 million subscribers

      January 23, 2025
    • 6

      Cyclopharm Signs US Agreement with HCA Healthcare for Technegas®

      January 23, 2025
    • 7

      FDA officially authorizes Zyn nicotine pouches for sale following health review

      January 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: daytradingreports.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 daytradingreports.com | All Rights Reserved