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 AI has caused a major market slump in the United States, especially around stocks that are majorly comprised of companies deeply invested in AI. However, as this market rout saw a set of investors dumping Nvidia shares,

Meanwhile, a slew of other tech executives including Elon Musk, Jeff Bezos and Mark Zuckerberg are reportedly set to attend the events on Monday.

Jensen Huang and Nvidia both saw their values hit hard Monday as investors digested the impact of Chinese AI company DeepSeek.

According to Bloomberg News on the 27th (local time), billionaires ranked among the world's 500 wealthiest individuals lost about $108 billion (approximately 156.276 trillion won) in a single day as a shock from DeepSeek led to a rapid spread of selling focused on tech stocks across global markets.

Nvidia called DeepSeek’s R1 model “an excellent AI advancement,” despite the Chinese startup’s emergence causing the chipmaker’s stock price to plunge 17%.

Nvidia CEO Jensen Huang speaks at CES 2025 ... Dell CEO Michael Dell and former New York mayor Michael Bloomberg. Rivaling Huang’s drop Monday was a $29.4 billion loss for Oracle chairman ...

Nvidia CEO Jensen Huang speaks at CES 2025 ... Dell CEO Michael Dell and former New York mayor Michael Bloomberg. Rivaling Huang’s drop Monday was a $24.9 billion loss for Oracle chairman ...

Despite the negative financial impact, Nvidia praised DeepSeek’s breakthrough. “DeepSeek is an excellent A.I. advancement and a perfect example of test time scaling,” a company spokesperson told Observer in a statement.

Nvidia CEO Jensen Huang Huang said he will be celebrating Lunar New Year with employees.

In this piece, we will look at the stocks Jim Cramer recently discussed.

Here’s why this story is so treacherous from a standpoint if you’re betting against US AI and companies like Nvidia.