President Donald Trump announced an A.I. initiative called Stargate. During a press conference at the White House attended by SoftBank (SFTBF) CEO Masayoshi Son and Oracle founder Larry Ellison, the returning President told reporters the initiative will invest $500 billion—equivalent to almost 2 percent of the annual U.
From left: Masayoshi Son, chairman and CEO of SoftBank; Larry Ellison, executive chairman of Oracle; and Sam Altman, CEO of OpenAI listen to President Trump speak at the White House on Jan. 21 ...
A tech selloff led by Chinese AI developer DeepSeek erased $108 billion from the wealth of the world’s richest, with Nvidia’s Jensen Huang losing $20.1 billion. Despite losses, some like Zuckerberg and Bezos saw their fortunes rise significantly amid the AI boom.
The world’s 500 richest people, led by Nvidia co-founder Jensen Huang, lost a combined $US108 billion ($172 billion) on Monday as a tech-led selloff tied to Chinese AI developer DeepSeek sent major indices plunging.
Yes, that's the name of a 1994 Roland Emmerich movie. It's now a big infrastructure project to help power tech giants' foray into AI.
US chip giant Nvidia and its CEO Jensen Huang are set for a record wipeout on Monday after Chinese startup DeepSeek upended the tech sector with its advanced new artificial intelligence model.
DeepSeek's AI breakthrough caused major U.S. tech market losses, with Nvidia's market value dropping $590 billion. Despite declines in tech, 351 S&P 500 stocks rose, reflecting the sector's outsized influence.
Oracle chairman Larry Ellison and Nvidia CEO Jensen Huang lost tens of billions on paper as shares of their AI-focused companies suffered as DeepSeek sent a chill through Silicon Valley.
Nvidia shares' 9% recovery Tuesday was the second-best day in terms of market cap added for any company ever, trailing only a record it set in July.
The American markets were spooked by the DeepSeek AI storm on Monday, January 27. While Dow Jones closed in green with minor gains, the tech-heavy Nasdaq closed with colossal losses of 612.47 points, or 3.07 per cent of its total value.
Tech billionaires lost around $100 billion as Chinese AI disruptor DeepSeek challenges Silicon Valley with a low-cost chatbot.