Nvidia has achieved a historic $5 trillion market capitalization as CEO Jensen Huang’s personal wealth surged by $17 billion in just one week. Political developments around Chinese market access could further accelerate Nvidia’s unprecedented growth trajectory.
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Technology megacaps experienced a massive $770 billion market value decline as the Nasdaq recorded its steepest drop since April. Nvidia led the losses with a $229 billion decrease, while Microsoft, Amazon, and Tesla saw significant valuation reductions. The selloff erased year-to-date gains for several major tech companies.
Technology megacaps suffered a devastating $770 billion loss in market capitalization on Friday as the Nasdaq Composite recorded its most significant single-day decline since April. The massive selloff impacted leading artificial intelligence and cloud computing companies, with Nvidia experiencing the most substantial individual loss at nearly $229 billion. The broad-based tech retreat reflects growing investor concerns about valuation levels and economic headwinds affecting the sector.
