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Tag: Nvidia

  • Nvidia CEO loses over B after stock tanks

    Nvidia CEO loses over $20B after stock tanks

    SKTLs Space Crypto co-founder Cody Willard explains how A.I. will impact the future of business on ‘Making Money.’ 

    Nvidia CEO Jensen Huang saw his personal fortune tumble on Monday amid turbulence in U.S. tech stocks. 

    His net worth hit $103.7 billion by the end of the trading day, marking a $20.8 billion drop, Forbes reported.

    The outlet, which tracks the fortunes of billionaires, linked the 11-figure decrease in his net worth to Nvidia’s stock falling 17% over the course of the day. 

    Nvidia CEO Jensen Huang delivers a keynote address at the Consumer Electronics Show in Las Vegas on Jan. 6, 2025. (Patrick T. Fallon/AFP via / Getty Images)

    Shares of Nvidia and other U.S. tech companies, particularly those with links to the artificial intelligence sector, fell on Monday after the popularity of Chinese AI startup DeepSeek raised concerns among investors over American dominance in the sector.

    CHINA’S DEEPSEEK DERAILS NASDAQ, NVIDIA, AI DARLINGS

    DeepSeek wrote in a paper last month that it trained its DeepSeek-V3 model with less than $6 million worth of computing power from what it says are 2,000 Nvidia H800 chips to achieve a level of performance on par with the most advanced models from OpenAI and Meta.

    DeepSeek's AI chatbot

    Shares of Nvidia and other U.S. tech companies, particularly those with links to the artificial intelligence sector, fell on Monday after the popularity of Chinese AI startup DeepSeek raised concerns among investors over American dominance in the sec (Photo Illustration by Justin Sullivan / Getty Images)

    Huang co-founded Nvidia over three decades ago and has a roughly 3% holding in the company, Forbes reported. 

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    Ticker Security Last Change Change %
    NVDA NVIDIA CORP. 122.58 +4.16 +3.52%

    Huang’s current net worth ranks among the 20 largest fortunes in the world, according to the outlet. His net worth crossed the $100 billion mark for the first time in May of last year.

    WHAT IS THE CHINESE AI STARTUP DEEPSEEK?

    Nvidia headquarters

    The Nvidia headquarters in Santa Clara, California, on Aug. 28, 2024. (Loren Elliott/Bloomberg via / Getty Images)

    The company’s market capitalization hovered around $2.98 trillion as of Tuesday. 

    FOX Business’ Eric Revell contributed to this report.

  • Nasdaq, Nvidia crushed by China’s DeepSeek update

    Nasdaq, Nvidia crushed by China’s DeepSeek update

    EMJ Capital President and founder Eric Jackson analyzes tough AI competition, the future of Stargate, and cryptocurrency cybersecurity under the Trump administration.

    America’s AI race among U.S. tech titans got suckered after Chinese AI app DeepSeek crashed onto the scene, sending investors into reverse.  

    The tech-heavy Nasdaq Composite nearly erased its gains for the year, falling 3% on Monday. 

    Ticker Security Last Change Change %
    I:COMP NASDAQ COMPOSITE INDEX 19341.833835 -612.47 -3.07%
    SP500 S&P 500 6012.28 -88.96 -1.46%

    DeepSeek’s model appears able to match the capability of chatbots like OpenAI’s ChatGPT and Meta’s Llama but at a fraction of the development cost. It also rose to No. 1 on the Apple App Store over the weekend. It is also reportedly able to use reduced-capability chips from Nvidia.

    SILICON VALLEY PRAISES CHINA’S DEEPSEEK APP

    The chipmaker, a darling of AI, lost almost 17%. It’s the worst percentage day since March 2020, as tracked by Dow Jones Market Group. About $600 billion in market cap was wiped out and trimmed CEO Jensen Huang’s net worth by about $20 billion in one day.

    HOW DEEPSEEK IS SHAKING US AI DOMINANCE

    Nvidia CEO Jensen Huang holds a Nvidia Drive Thor processor at the Consumer Electronics Show in Las Vegas on Jan. 6, 2025. (PATRICK T. FALLON/AFP via Getty Images)

    An Nvidia spokesperson told FOX Business: “DeepSeek is an excellent AI advancement and a perfect example of Test Time Scaling. DeepSeek’s work illustrates how new models can be created using that technique, leveraging widely-available models and compute that is fully export control compliant. Inference requires significant numbers of NVIDIA GPUs and high-performance networking. We now have three scaling laws: pre-training and post-training, which continue, and new test-time scaling.”

    Ticker Security Last Change Change %
    GOOGL ALPHABET INC. 191.81 -8.40 -4.20%
    PLTR PALANTIR TECHNOLOGIES INC. 75.44 -3.54 -4.48%
    MSFT MICROSOFT CORP. 434.56 -9.49 -2.14%
    META META PLATFORMS INC. 659.88 +12.39 +1.91%

    Other AI players, Google, Microsoft and Palantir, also saw steep losses, while Meta rose after it hiked capital spending plans to as much as $65 billion this year. 

    A handful of nuclear power plants also got slammed. Investors worry that the companies that control heating and cooling for AI may not see the demand if DeepSeek turns out to be the real deal. Constellation Energy, Talen and Vistra all lost ground. 

    Ticker Security Last Change Change %
    CEG CONSTELLATION ENERGY CORP. 275.00 -72.44 -20.85%
    TLN TALEN ENERGY 192.16 -52.90 -21.59%
    VST VISTRA CORP 136.96 -54.14 -28.33%

    WedBush analyst Dan Ives said in a research note that while DeepSeek’s model is “impressive,” he warned investors this is not a dealbreaker for the AI revolution and told clients to buy amid the sell-off. 

    “The bears dominate the weekend narrative and try to scare investors this is a black swan moment. It’s actually the opposite. If inference training accelerates it speeds up AI Revolution..bullish for hyperscalers, Nvidia and use cases. DeepSeek impressive LLM..it ends there,” he posted on X.

    The tech rout spilled into Bitcoin, which briefly fell below $100,000 before recovering some of those losses. 

    As investors sold tech, they rotated into more defensive names, including Procter & Gamble, Coca-Cola and insurance company Travelers. These stocks helped propel the Dow Jones Industrial Average to a 289-point gain. 

    Dow Jones Industrial Average

    Bonds also fell with the 10-year Treasury yield hitting 4.529%, the lowest since Dec. 20, 2024.

  • Pelosi discloses sales of Nvidia and Apple shares, purchase of Alphabet and Amazon

    Pelosi discloses sales of Nvidia and Apple shares, purchase of Alphabet and Amazon

    Check out what’s clicking on FoxBusiness.com.

    Former House Speaker Nancy Pelosi, D-Calif., reported several stock trades on Inauguration Day that were made in December and early January involving several of the world’s largest tech companies, an industry her husband Paul has traded in before. 

    Congressional stock trading disclosures, known as periodic transaction reports, cover trades made by both the member of Congress and a spouse.

    Ian Krager, a spokesperson for the former speaker, told FOX Business, “Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions.”

    NANCY PELOSI’S HUSBAND SOLD MORE THAN $500K IN VISA STOCK AHEAD OF DOJ ACTION

    Pelosi’s disclosure showed the purchase of 50 call options for Alphabet, the parent company of Google, along with 50 call options for Amazon, according to her latest periodic transaction report filed with the clerk of the House of Representatives. 

    Both sets of call options have a strike price of $150 and were valued between $250,001 and $500,000. Call options give investors the right to buy shares of a company at a specific price.

    Ticker Security Last Change Change %
    AAPL APPLE INC. 223.83 +1.19 +0.53%
    NVDA NVIDIA CORP. 147.07 +6.24 +4.43%
    GOOGL ALPHABET INC. 198.37 +0.32 +0.16%
    AMZN AMAZON.COM INC. 235.01 +4.30 +1.86%

    The disclosure showed the sale of 10,000 shares of Nvidia along with 31,600 shares of Apple on Dec. 31. After the sale, Paul Pelosi bought 50 more Nvidia call options on Jan. 14 that had a strike price of $80 in a trade that was in the range between $250,000 and $500,000. He also exercised 500 call options for Nvidia on Dec. 20 that had a strike price of $12 and were due to expire that day. 

    That trade was in the range between $500,000 and $1 million.

    Former House Speaker Nancy Pelosi, D-Calif., reported new stock trades involving notable tech companies. (Chip Somodevilla/Getty Images / Getty Images)

    The former speaker’s disclosure also noted several other investments that occurred in the last month, including that 140 call options were exercised for 14,000 shares of Palo Alto Networks at a strike price of $100 that were due to expire Dec. 20 in a trade reported as being between $1 million and $5 million.

    Pelosi also disclosed the purchase of 50 call options of Tempus AI with a $20 strike price, as well as 50 call options of Vistra Corp. with a $50 strike price, on Jan. 14. The Vistra purchase was in the $500,000 to $1 million range, while Tempus was between $50,000 and $100,000.

    Ticker Security Last Change Change %
    VST VISTRA CORP 186.85 +1.41 +0.76%
    TEM TEMPUS AI 50.45 +2.81 +5.90%

    BIPARTISAN GROUP OF SENATORS REACHES AGREEMENT TO BAN LAWMAKERS FROM TRADING STOCKS

    Paul and Nancy Pelosi

    Former Speaker of the House Nancy Pelosi, D-Calif., and husband Paul Pelosi attend the Vanity Fair Oscars Party at the Wallis Annenberg Center for the Performing Arts in Beverly Hills, California, on March 10, 2024. (Michael Tran/AFP via Getty Images / Getty Images)

    Investments made by Paul Pelosi have attracted scrutiny amid mounting calls for members of Congress and their immediate family members to be banned from stock trading. 

    Ticker Security Last Change Change %
    V VISA INC. 323.54 -0.07 -0.02%

    Last fall, Paul Pelosi sold over $500,000 in Visa stock ahead of a Justice Department antitrust suit against the credit card giant. Earlier last year, an analysis estimated that he made the couple nearly $4 million in a six-month period off of Nvidia call options he bought in November 2023.

    Lawmakers’ spouses can trade in companies or industries their partner may help regulate, but it’s illegal for members of Congress and their family members to profit from inside information.

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    Members of Congress on both sides of the political aisle have proposed legislation in recent years that would ban lawmakers and their family members from owning stock. Bipartisan bills to that end were developed in the Senate during the last Congress, but neither became law before the end of the 118th Congress, leaving the issue to the current Congress.

    FOX Business’ Breck Dumas contributed to this report.