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  • NVIDIA loses ~$600B in market cap, biggest 1-day drop in U.S. history, as DeepSeek intensifies competition

NVIDIA loses ~$600B in market cap, biggest 1-day drop in U.S. history, as DeepSeek intensifies competition

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Top stories today:

  1. NVIDIA loses ~$600B in market cap as Altman says plans unchanged
  2. DeepSeek releases Janus Pro, new open-weight image models
  3. Trump vows tariffs ā€œmuch biggerā€ than 2.5% on semiconductors
  4. Alibaba launches Qwen 2.5-VL models with advanced agentic capabilities
  5. Trump says Microsoft eyeing TikTok bid to keep in U.S.

0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).

All times are ET.

Listen to our AI-generated podcast summarizing todayā€™s newsletter (beware of hallucinations):

1. NVIDIA loses ~$600B in market cap, largest drop ever, as Altman says plans unchanged

NVIDIA was -17% yesterday, but is already +4% in the pre-market:

NVIDIA CEO Jensen Huangā€™s net worth -$21B to $103.6B

  • Moved to the 17th spot on Forbesā€™ richest-person list.

Sam Altman called it an ā€œimpressive model,ā€ but ā€œwe will obviously deliver much better models,ā€ and we ā€œbelieve more compute is more important now than everā€

As Elon Musk put it, ā€œApple used to really bring out products that would blow peopleā€™s minds.ā€ Those days seem behind us, but Mode Mobile is stepping up, turning smartphones into income generators. Hereā€™s what that looks like:

And with their Nasdaq stock ticker $MODE secured, you now have a limited time to invest in their pre-IPO offering at $0.26/share.

* Disclaimer: Please read the offering circular at invest.modemobile.com. This is a paid advertisement for Mode Mobileā€™s Regulation A offering. A reservation of the ticker symbol is not a guarantee that we will be listed on the Nasdaq. Any IPO timing is unknown, general steps to be accepted have not been undertaken at this point, and that listing is not guaranteed.

3. DeepSeek releases Janus Pro, new open-weight image models with 1B-7B parameters

Janus Pro 7B has challenged OpenAIā€™s DALL-E 3, PixArt-alpha, Emu3-Gen, and Stability AIā€™s Stable Diffusion XL on the GenEval and DPG-Bench benchmarks, per DeepSeek:

Relatedly, DeepSeek V3 API is seen to have -40% in output speed since its launch on Dec. 26, to ~50 output tokens/s from 85 tokens/s

4. Trump vows tariffs ā€œmuch biggerā€ than 2.5% on areas including semiconductors

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