partial quote from:
https://www.nbcnews.com/business/business-news/nvidia-loses-market-value-chinese-ai-startup-deepseek-debut-rcna189431
Shares of the chipmaker, one of the primary beneficiaries of the artificial intelligence boom in tech stocks, plummeted as much as 18%. That pushed Nvidia's market value below $3 trillion. Still, shares of the firm are up more than 480% over the last two years.
The drop accounted for more than $520 billion in lost market value though. If shares of the tech giant close at this level, it would be the biggest market value drop in U.S. stock market history, according to Bloomberg. And it would be nearly double the second worst drop in history, also seen by Nvidia shareholders in September 2024, when the company shed $279 billion in value.
For some perspective, the amount of market value lost by Nvidia on Monday is more than the entire market value of Exxon Mobil, Costco, Home Depot or Bank of America.
Due to the AI-fueled surge in mega-cap tech stocks, Nvidia catapulted into the top five most valuable companies in the world in 2023. The surge didn't stop there, with the company soaring past Alphabet, Microsoft and the most valuable company in the world: Apple. At its most recent peak, Nvidia reached a towering $3.7 trillion.
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