look news india
This year, some unwanted records have been seen in the name of Nvidia company. It has become the company with the highest market cap loss in a day. Nvidia's market cap has fallen by one trillion dollars in less than a month. Now those who have benefited have benefited but the loss figure here is also big. Know more details.
Nvidia shares rose 2600% in five years
This year has been great for American AI chip maker Nvidia. The company set a new record for achieving the highest market cap in a single day and for some time it also became the world's most valuable company. With this rapid growth, about 25,000 employees of the company have become millionaires. The company's stock has increased by 2,600 percent in the last five years. But this year the company has also registered some unwanted records in its name. It has also become the company with the highest market cap loss in a day. Nvidia's market cap has fallen by one trillion dollars in less than a month. Now those who have benefited have benefited but the figure of loss here is also big.
Nvidia's shares fell more than nine percent on Tuesday and its market cap fell by $279 billion. This is the biggest one-day drop in the market cap of any company in the world. Earlier this record was in the name of Facebook's parent company Meta, which lost $252 billion on February 3, 2020. India's most valuable company Reliance Industries has a total market cap of $244 billion. Nvidia's market cap has fallen by almost a trillion dollars in less than a month.
Why did the price fall suddenly?
The US Justice Department has sent a summons to Nvidia. The government has expanded the scope of investigation against the company. Officials say that the company is harassing buyers who are not using its chips. Due to this, the company's shares fell sharply. Due to the fall in the company's stock, the net worth of founder and CEO Jensen Huang has also declined by $ 10 billion. Huang has come to 18th place in the list of the world's richest people with a net worth of $ 93.4 billion. This year his net worth has gone up to $ 49.4 billion.