Article

2025-01-28 Economy

Nvidia no longer world's most valuable company after losing $589 BILLION in biggest stock drop in history

[Daily Mail, where America gets its news] Nvidia is no longer the world's most valuable company after suffering the biggest stock market drop in history.

The chipmaker shed more than $589 billion in value on Monday after its stock dropped around 17 percent.

The plunge cost the company the equivalent value of Netflix's market cap or the entire GDP of countries such as Ireland, Sweden or Belgium.

Nvidia's CEO Jensen Huang personally saw $21 billion wiped off his net worth on Monday due to the stock he holds in the company.

The losses came after investors panicked about the implications of a new Chinese AI that appears to compete with its American rivals but for a fraction of the cost.

DeepSeek's advances have raised doubts about whether the US will retain its lead in the global race of advancing AI technology.

The Chinese company released its free AI Assistant last week which it says uses less Nvidia chips at a fraction of the cost of current models on the market.

DeepSeek overtook its rival ChatGPT to become the most-downloaded free application available on the Apple Store in the US on Monday.

Posted by Skidmark 2025-01-28 01:30|| || Front Page|| [11152 views ] Top
File under: Commies

#1
Beware the CCP offering a free AI Assistant.

Posted by NN2N1 2025-01-28 04:56|| 2025-01-28 04:56|| Front Page Top

#2 Humanity is toast

Posted by Grons Phuling4961 2025-01-28 07:28|| 2025-01-28 07:28|| Front Page Top

#3 (1) Stock was waay overvalued. Trendy.
(2) The CCP has entered the stock manipulation biz in a big way.

Posted by ed in texas 2025-01-28 08:28|| 2025-01-28 08:28|| Front Page Top

#4 CCP probably 'borrowed' Nvidia technology to accomplish their new system.... with some tweaks of course.

Posted by Mullah Richard 2025-01-28 08:33|| 2025-01-28 08:33|| Front Page Top

#5 Cyber attacks are starting on accounts that use DeepSeek.

Probably also on accounts that use Chat GPT and other AI programs but we don't know about that yet.

Posted by Lord Garth 2025-01-28 09:11|| 2025-01-28 09:11|| Front Page Top

#6 DeepSeek says its models were trained using innovative techniques to overcome the gap in the quality and quantity of its chips

Posted by Skidmark 2025-01-28 09:47|| 2025-01-28 09:47|| Front Page Top

#7 Begun, the AI wars have.

Posted by swksvolFF 2025-01-28 09:56|| 2025-01-28 09:56|| Front Page Top

#8 The DeepSeek AI chatbot burst onto the scene: are fears about it overblown?

The advancements made by DeepSeek with what it reported as being fewer, lower capability chips and a lower cost than spending on AI training by U.S. rivals prompted a market sell-off and a debate over whether the Chinese firm has upended American firms' edge in the AI race.

Posted by Skidmark 2025-01-28 10:41|| 2025-01-28 10:41|| Front Page Top

#9 re: #3 - The "eat a tide pod" of stock trading

Posted by Mercutio 2025-01-28 10:43|| 2025-01-28 10:43|| Front Page Top

#10 /\ "Tide Pod"....whahahahahaha gasp, whahahahaha.

Posted by Besoeker 2025-01-28 10:52|| 2025-01-28 10:52|| Front Page Top

#11 Look at the the last century. To which shiny new technology have humans not irreversably enyoked ourselves?
And now comes full frontal AI.
As they say in Corp speak, "We're really excited about the opportunity!"

Posted by hyper 2025-01-28 12:09|| 2025-01-28 12:09|| Front Page Top

#12 NVIDIA gained quite a bit today. Over 60% of yesterday's loss was recouped.

Posted by Lord Garth 2025-01-28 16:26|| 2025-01-28 16:26|| Front Page Top

#13 Panicked bitches and media losses were recovered by smart investors. Show how DeepSeek is any better than our own AI Myth

Posted by Frank G 2025-01-28 19:44|| 2025-01-28 19:44|| Front Page Top

#14 Why the Current Day Hollywood Message people are in trouble with AI:

That said, I watched an obviously generated show about dinosaurs recently. Besides the obviously not how humans communicate even in a simple lecture format, there was a graphic I'm sure was supposed to show Continental Drift. It showed modern day Earth, cut it up and positioned the pieces where they were supposed to be, and animated it. So what you had, most blaringly, was India Subcontinent superimposed on top of today's North Africa and just moving into today's position like a puzzle of today's earth pieces just floating around.

But again, that being said, in gamer terms, the AI from just a couple years ago - commercially - jumped from Atari 2600 to Nintendo NES, and catching up to current Unreal 5 Engine will probably only be another year or 2, and able to do more than just a trailer or music video about Middle Earth.

Why the saying is, Authenticity is the Currency of the Future.

Posted by swksvolFF 2025-01-28 20:39|| 2025-01-28 20:39|| Front Page Top

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