2024-09-06 13:10:27
New Delhi: This year has been historic in many ways for the American AI chip maker Nvidia. During this time, the company made a record of achieving the highest market cap in a day and for some time it also became the world’s most valuable company. With this growth, about 25,000 employees of the company became millionaires. In the last five years, the company’s shares have increased by 2,600 percent. But this year some unwanted records were also put in the name of the company. It also became the company that lost the most market cap in a day. In less than a month, its market cap has fallen by one trillion dollars. After all, how did Nvidia get played with … On Tuesday, Nvidia’s shares fell by more than nine percent and its market cap fell by $ 279 billion. This is the biggest fall in the market cap of any company in the world in a day. 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 nearly a trillion dollars in less than a month.
1 trillion dollars destroyed in one day… where did this earthquake come from in America
why did the stock fall
The US Justice Department has sent a summons to Nvidia. The government has expanded the scope of anti-trust 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 saw a huge decline. Due to the fall in the company’s shares, the net worth of founder and CEO Jenson Huang also fell by $ 10 billion. Huang has slipped 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 increased by $ 49.4 billion.