Oopsy- Nvidia takes a hit
The news the last couple of days has reported somewhat confusingly on new Chinese AI company called ‘DeepSeek’. I found a fairly clear report on the BBC about what is going on. DeepSeek itself isn’t the really big news, but rather what its use of low-cost processing technology might mean to the industry.
And that implication has cause a massive stock selloff of Nvidia resulting in a 17% loss in stock price for the company- $600 billion dollars in value decrease for that one company in a single day (Monday, Jan 27). That’s the biggest single day dollar-value loss for any company in U.S. stock market history.
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