New Delhi, Jan. 28 -- In a significant shakeup, the release of DeepSeek AI, a cutting-edge product from a Chinese start-up, has sent shockwaves through the global AI and semiconductor markets.

The announcement triggered a massive selloff in Nvidia shares, resulting in a record USD 589 billion loss in market capitalization.

Nvidia's stock price plummeted 17 per cent from USD 141 per share to USD 118.5 per share, causing Jensen Huang, the company's CEO and largest individual shareholder, to lose USD 20.8 billion in net worth.

According to Forbes, Huang's fortune dropped from USD 124.4 billion to USD 103.7 billion, pushing him from the 10th spot to the 17th position on the real-time billionaires list.

The sell-off in Nvidia shares marked...