Tech-sector titans as a group saw $94 billion of wealth evaporate — roughly 85% of the Bloomberg index’s total decline.
The retreat came after DeepSeek unveiled its R1 chatbot that has shown the ability to match the capacity of US AI pace-setters for a fraction of the investments made by American companies.
Billionaires tied to AI saw the largest drop, with Nvidia’s CEO Jensen Huang leading the loss with a 20% fall in wealth.
The world’s 500 richest individuals, particularly those associated with AI, experienced a significant financial hit, losing ...
The S&P500 and the Nasdaq Composite declined as investors questioned America's AI dominance after DeepSeek launched its free ...
DeepSeek's privacy policy reveals extensive data collection practices. The company gathers information users provide, ...