# World's richest people lose $108b after DeepSeek selloff

> The world's 500 wealthiest people, led by Nvidia's Jensen Huang, lost $108 billion on Monday due to a tech selloff tied to Chinese AI firm DeepSeek. DeepSeek’s competitive AI chatbot app, developed for just $5.6 million…

Published: 2025-01-28 · Desk: Latest · Source: The Business Standard

The world’s 500 richest individuals, led by Nvidia's Jensen Huang, collectively lost $108 billion on Monday due to a tech selloff linked to Chinese AI firm DeepSeek. Huang lost $20.1 billion, while Larry Ellison lost $22.6 billion. Other notable losers included Michael Dell and Changpeng Zhao. Tech giants saw a $94 billion decline, with the Nasdaq dropping 3.1% and the S&P 500 down 1.5%. DeepSeek, which developed a competitive AI chatbot app, gained significant attention after topping download charts. Despite its low development cost of $5.6 million, DeepSeek’s success challenges Silicon Valley's model of massive capital spending for AI. The company has reportedly acquired more AI chips than anticipated, defying US export restrictions.

Original reporting: https://www.tbsnews.net/tech/worlds-richest-people-lose-108b-after-deepseek-selloff-1054391
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