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DeepSeek's rise has cost tech billionaires significantly, with Elon Musk losing $90 billion, followed by Jensen Huang and Mark Zuckerberg, who lost $20 billion and $11 billion, respectively. The AI startup's success led to a $600 billion drop in Nvidia's market value, marking one of the largest declines in US stock history. Despite the financial fallout, Huang praised DeepSeek for its innovation and impact on global enthusiasm for AI, while major clients like Meta, Amazon, Google, and Microsoft plan to invest $320 billion in AI and data centers.
Nvidia's shares plummeted nearly 9% on March 3, resulting in a $265 billion loss in market value, following President Trump's announcement of new tariffs on imports from Canada and Mexico. This decline contributed to a broader market downturn, with the Dow Jones dropping 800 points and the Nasdaq over 3%. Despite these challenges, CEO Jensen Huang remains optimistic about the company's AI advancements and upcoming Blackwell chips, while also planning to produce chips as part of Taiwan Semiconductor's $100 billion US expansion.
Nvidia has officially recognized Huawei as a significant competitor for the second consecutive year, highlighting the Chinese company's resilience despite U.S. sanctions. Huawei has made remarkable strides in semiconductor design and software development, notably launching its own HarmonyOS and advanced processors, which have allowed it to compete effectively in the global tech market. This shift underscores the intensifying rivalry between U.S. and Chinese tech firms, particularly in AI computing and cloud services.
Elon Musk leads the list of the world's 24 superbillionaires with a net worth of $419.4 billion, a new category for individuals worth $50 billion or more. This elite group, which includes notable figures like Jeff Bezos and Mukesh Ambani, collectively holds $3.3 trillion, representing over 16% of all billionaire wealth. Among them, only three are women: Julia Koch, Francoise Bettencourt Meyers, and Alice Walton.
NVIDIA has identified Huawei as a significant competitor across four sectors: chips, cloud services, computing, and networking, marking the second consecutive year it has listed the company as a rival. Despite U.S. sanctions, Huawei has improved its AI chip yield to nearly 40% and its Ascend 910C chip reportedly achieves 60% of the performance of NVIDIA's H100. In 2024, Huawei's revenue surpassed 860 billion yuan ($118.27 billion), reflecting a 22% year-over-year growth as its consumer business rebounds.
Nvidia reported a record $39.3 billion in revenue for the fourth quarter, a 78% increase year-on-year, driven primarily by a 93% growth in its data center segment. Despite these impressive results, the stock fell 4% due to supply constraints, rising competition, and macroeconomic concerns, including potential trade tensions with China. Looking ahead, Nvidia forecasts $43 billion in revenue for the next quarter, but the market is wary, awaiting evidence of long-term sustainability amid increasing scrutiny.
NVIDIA reported strong quarterly results, exceeding revenue and earnings forecasts, with CEO Jensen Huang noting "amazing" demand for its Blackwell chips. Despite slight concerns over near-term gross margins, the outlook for AI compute remains positive, supported by increased capital spending from major tech firms and ongoing AI adoption trends. The broader AI market is expected to grow significantly, with total AI spending projected to approach USD 500 billion by 2026.
Nvidia faces increasing competition from Huawei in the AI chip market, despite U.S. sanctions limiting Huawei's technology access. Huawei's revenue surged to 860 billion yuan in 2024, bolstered by its self-developed HarmonyOS NEXT and improved Ascend chip production, while Nvidia reported $12 billion in sales in China, maintaining its market lead. Nvidia anticipates strong demand for its Blackwell processors, projecting first-quarter revenue of $43 billion, although gross margins are expected to dip temporarily.
Nvidia has recognized Huawei as one of its top competitors for the second consecutive year, despite Huawei being blacklisted by the US. Following a significant revenue drop in 2021, Huawei rebounded with the launch of its Mate 60 Pro in 2023 and achieved record growth with the Mate 70 series in 2024, reaching 860 billion yuan.
Nvidia has identified Huawei as a significant competitor in the AI chip market, highlighting its growth despite U.S. sanctions. CEO Jensen Huang noted Huawei's advancements in chipmaking, particularly with the Kirin 5G and Ascend AI chips, as the company aims to boost production and challenge Nvidia's dominance in China. Huawei plans to manufacture 100,000 910C and 300,000 910B processors, with the 910C delivering 60% of the performance of Nvidia's H100, positioning it as a formidable rival.
Jensen Huang
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