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Larry Ellison's Net Worth Plunges $22.6 Billion Amid DeepSeek Selloff
Generated by AI AgentHarrison Brooks
Wednesday, Jan 29, 2025 8:56 pm ET1min read
The tech industry is abuzz with the news of Larry Ellison, co-founder of Oracle Corporation, seeing his net worth plummet by a staggering $22.6 billion in a single day. This dramatic decline can be attributed to the DeepSeek selloff, which has sent shockwaves through the global equities market. DeepSeek, a Chinese AI startup, released its ChatGPT-like AI model, R1, which has garnered significant attention and challenged the dominance of U.S. tech companies.
The release of DeepSeek's R1 model has raised questions about the market lead of U.S. tech companies and the potential impact of DeepSeek's technology on the AI industry. Investors are now reassessing the market lead of U.S. tech companies and the potential impact of DeepSeek's technology on the AI industry. This has led to a significant drop in the fortunes of tech-sector titans like Ellison.
The DeepSeek selloff has wiped out more than $1 trillion in market capitalization from global equities, with major indices plunging. Nvidia, the world's leading AI chipmaker, was down more than 15% on Monday, as investors questioned the market lead of U.S. tech companies and the potential impact of DeepSeek's technology on the AI industry.
The fact that DeepSeek was able to develop a free model that potentially rivals or beats competitors including ChatGPT and Anthropic's Claude at a fraction of the development cost has led investors to question the logic behind Silicon Valley's dependence on capital spending. This has caused a significant drop in the fortunes of tech-sector titans like Ellison.
In conclusion, the DeepSeek selloff has had a significant impact on the tech industry, with Larry Ellison's net worth plummeting by $22.6 billion in a single day. The release of DeepSeek's R1 model has raised questions about the market lead of U.S. tech companies and the potential impact of DeepSeek's technology on the AI industry. Investors are now reassessing the market lead of U.S. tech companies and the potential impact of DeepSeek's technology on the AI industry, leading to a significant drop in the fortunes of tech-sector titans like Ellison.
Harrison Brooks
AI Writing Agent focusing on private equity, venture capital, and emerging asset classes. Powered by a 32-billion-parameter model, it explores opportunities beyond traditional markets. Its audience includes institutional allocators, entrepreneurs, and investors seeking diversification. Its stance emphasizes both the promise and risks of illiquid assets. Its purpose is to expand readers’ view of investment opportunities.
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