You only need to glance at the list of the world’s wealthiest individuals to see how advancements in AI developments have propelled their fortunes to extraordinary levels.
But DeepSeek’s disruptive debut has shaken investor confidence in the value of AI projects backed by major tech companies. This uncertainty sent stock values tumbling and shaved $108 billion off the collective fortunes of tech CEOs and founders in a single day, according to Fortune. Yet, this isn’t the first time the AI sector has faced such turbulence.
Jensen Huang and Nvidia in the eye of the storm. News that China’s new AI model was developed without Nvidia’s top-tier processors led to a $400 billion drop in the company’s market valuation.
As a result, Nvidia CEO Jensen Huang’s personal fortune plunged by $20.1 billion—20% of his net worth—in just one day.
Larry Ellison’s AI infrastructure. Oracle’s recent success has largely relied on its role as a backbone for AI development. It’s no surprise, then, that investors responded to DeepSeek’s debut by selling off Oracle shares, hitting the wealth of company founder Larry Ellison, who ranks fifth among the world’s richest individuals.
Ellison’s fortune fell 12% in percentage terms, slightly less than Huang’s. In absolute terms, however, the drop was staggering. His net worth, estimated at $23.5 billion, saw a significant devaluation.
Collateral damage. In total, tech giants collectively lost around $94 billion in direct market value, driven by the massive sell-off of shares. The fallout extended beyond the tech sector, shaking indexes across the board: The Nasdaq fell 3.1%, and the S&P 500 dipped 1.5%.
For example, Dell CEO Michael Dell saw his fortune plummet by $13 billion after China unveiled its new AI model. Similarly, Binance Holdings co-founder Changpeng “CZ” Zhao lost $12.1 billion.
Immune to the earthquake. While DeepSeek has disrupted the AI landscape, not everyone in the tech world took a hit. Some key players even emerged stronger.
LVMH CEO Bernard Arnault capitalized on the turmoil, adding $5 billion to his fortune. Meanwhile, Meta CEO Mark Zuckerberg navigated the chaos with finesse, increasing his wealth by $4.2 billion. Amazon founder Jeff Bezos, while playing a quieter role, still managed to add $519 million to his fortune. Both Zuckerberg and Bezos have weathered the storm by maintaining their investments in AI development.
Image | Nvidia | timoni west | Meta
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