Topline Several notable billionaires experienced massive hits to their fortunes Monday as the Chinese generative artificial intelligence startup DeepSeek upended the U.S. stock market, hitting the American AI leader Nvidia the hardest. Nvidia CEO Jensen Huang speaks at CES 2025. NurPhoto via Getty Images Key Facts As Nvidia shares tanked 17% and the company lost

Nvidia products have become a prized commodity among data center operators, which use the chips to develop AI software and services. The Santa Clara, California-based company acknowledged in August that Blackwell proved more difficult to produce than anticipated. Photo by Chip Somodevilla/Getty Images