Larry Ellison, the Oracle co-founder, lost $22.6 billion in one day as DeepSeek disrupted the tech market. Meanwhile, Nvidia co-founder Jensen Huang saw his net worth drop by over $20.1 billion—a record for the biggest single-day loss for any public company. The AI startup’s open-source model and low development cost shocked Silicon Valley, causing a sell-off across major tech stocks like Oracle, Nvidia, and Microsoft. Not all investments failed, though; Mark Zuckerberg gained $4.3 billion, and Jeff Bezos saw an extra $632 million.
The market bounced back on the 29th, with Nvidia surging nearly 9%. However, this wasn’t a short-term dip—it was a wake-up call for tech companies. DeepSeek’s rise proves that AI competition isn’t just about spending money but innovation. A company that didn’t exist two years ago could change Silicon Valley forever. Larry Ellison remains a billionaire, but his day-to-day worries are likely minimal. As for the future of AI, it seems anyone could disrupt it—even China’s tech companies like DeepSeek showed they’re changing the game.
Source: https://finance.yahoo.com/news/larry-ellison-oracle-co-founder-013235399.html