Stocks perked up slightly but were still trading lower as Federal Reserve Chair Jerome Powell began speaking on Wednesday. The Dow Jones Industrial Average was down 209 points, or 0.5%. The S&P 500 was down 0.
While tech bigwigs like Mark Zuckerberg, Jeff Bezos and Elon Musk all plan to be at Donald Trump's inauguration on Monday, the CEO of one of the biggest companies says he will not be there. Nvidia's Jensen Huang, worth an estimated $100 billion, said he will not be in Washington for the event.
Nvidia staged a moderate rebound on Tuesday, rising as much as 3%, following a 17% drop the prior day. More broadly, major US indexes rallied after S&P 500 and Nasdaq 100 saw sharp losses on Monday amid concerns over the Chinese AI firm DeepSeek rapid and cost-effective advances.
A company called DeepSeek said it had developed a large language model that can compete with U.S. AI giants but at a fraction of the cost.
American AI stocks got sucker punched after China's DeepSeek app reportedly showed advancements against rivals sending investors into sell mode, shaving 3% off the Nasdaq.
A company called DeepSeek said it had developed a large language model that can compete with U.S. AI giants but at a fraction of the cost.
News from China upset U.S. markets Monday and disrupted the frenzy that had built up around artificial intelligence.
The emergence of China-based AI app DeepSeek sent shares plummeting on Monday for many U.S. tech giants, including chipmaker Nvidia and AI-backer Microsoft.
The recent AI advances by Chinese upstart DeepSeek could be the beginning of a potential nightmare scenario that Nvidia Corp. Chief Executive Jensen Huang has been worrying about since the chip ...
A look at how Monday's plunge impacted Nvidia CEO Jensen Huang's wealth. Get Wall Street's Hottest Chart Every Morning Semiconductor company NVIDIA Corporation NVDA suffered the biggest single day ...
Nvidia CEO Jensen Huang's net worth fell from $121 billion to around $100 billion on Monday, per the Bloomberg Billionaires Index.Artur Widak/NurPhoto via Getty Images Nvidia CEO Jensen Huang's ...