Due to the success of DeepSeek, the fortunes of the world’s richest people have decreased

Bloomberg reports that the fortune of the 500 richest people in the world decreased by $108 billion.

This happened because of the fall in stocks, and on the background of the success of the Chinese chatbot DeepSeek.

The strongest affected the head of Nvidia, Jensen Huang, whose fortune decreased by 20%, or $20.1 billion.

The development of the chatbot cost the Chinese company about 6 million dollars – 100 times less than the developers of ChatGPT.

As we know, this Chat GPT-like model outperformed all existing AI clients in tests.

At the same time, Chinese artificial intelligence runs on older chips and will cost customers much less.

The DeepSeek app has also rocketed to the top of the download chart in the Apple Store.

This has already brought down the shares of major Western tech giants working with AI or maintaining its infrastructure.

The fall continues. Apart from US indices, Japanese indices are also falling, with the Nikkei 225 index down 1.34%.

Companies that supply electrical equipment for U.S. AI infrastructure have also started to fall. Shares of German company Siemens Energy AG lost almost 20 percent.

Chipmaker Nvidia market value collapsed the hardest, falling nearly $600 billion, or 17 percent, yesterday.

DeepSeek didn’t use their newer and more expensive chips, managing to make a top-end product on older processors.

This was done in the face of sanctions (most Nvidia products cannot be sold to Chinese companies without licenses from Washington).

That is, investors are now withdrawing their funds to produce more expensive chips.

At the same time, the Hong Kong stock exchange, where Chinese companies are traded, rose.