More than $500bn erased from Nvidia's valuepublished at 21:57
21:57
Investors made a quick exit from several big-name tech stocks after the emergence of the low-cost chatbot built by a Chinese artificial intelligence (AI) firm - DeepSeek.
Nvidia, the leading AI chip-maker, saw its stocks plunge by more than 16%, wiping more than $500bn off its value.
That is the equivalent to lose about the entire market valuation of oil giant Exxon, or credit card giant MasterCard.
But Nvidia is still worth more than $2.9 trillion. Only Apply and Microsoft are currently ranked ahead of Nivida in terms of market valuation.
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