Jensen Huang's Nvidia Corp's net worth fell by $15.1 billion to $150.9 billion on Thursday as stocks declined post the Democrats' sweeping victories in the US midterm elections a day prior.
\n\nThe loss dropped Huang to the 13th position from the ninth one on the Bloomberg Billionaires Index.
\n\nThe other big losers included SpaceX and Tesla's Elon Musk, Oracle Corp's co-founder Larry Ellison, who lost $79.7 billion and $10.1 billion, each.
\n\nA Democrat-controlled House and Senate is likely to work to constrain the construction of data centers, which are a key component of AI infrastructure. This helped drive the shares of semiconductor makers and suppliers of computing power lower. NVIDIA fell 9.3%, its biggest single-day decline since January 2023, while SpaceX shares were down 9% and Oracle dropped 6.9%.
\n\nAll three men, especially Huang, are heavily exposed to the data centers buildout to support the increasing demands of AI. His California-based firm is the leading supplier of high-performance computer chips.
\n\nMeanwhile, Musk's SpaceX develops its own AI models and builds data centers to run them and Ellison's Oracle has built a big business by supplying computing power to others.
\n\nThe 500 people on the wealth index lost a cumulative $185…
Original source: https://www.cnbctv18.com/technology/
