DeepSeek's Rise Costs Billionaires $94 Billion, Disrupts Tech Industry

The rapid ascent of Chinese AI startup DeepSeek has resulted in substantial financial losses for prominent tech billionaires, including Elon Musk, Jensen Huang, and Mark Zuckerberg. Musk's net worth plummeted from approximately $433 billion to $349 billion, marking a staggering loss of about $90 billion. Jensen Huang of Nvidia saw his fortune decrease by around $20 billion, while Zuckerberg experienced an $11 billion drop. The decline in these billionaires' wealth was exacerbated by a significant selloff in Nvidia shares, resulting in a $600 billion loss in the company's market capitalization. DeepSeek's disruptive presence in the AI market is attributed to its affordable solutions that rival established players like OpenAI. Despite these setbacks, industry leaders continue to invest in AI, highlighting the sector's long-term potential.