The most expensive company, the chip manufacturer Nvidia, lost around 560 billion euros in stock market value in a few hours. This is more than the economic output of Austria in one year (GDP) and the greatest loss of day that a US company had to accept on Wall Street. Of course, Nvidia was very overvalued, say stock analysts.
The trigger for the crash of these and other shares was the realization that software with artificial intelligence may be trained with much less computing power than was previously thought – at least after a message from the Chinese start -up. This would mean that the previously heavily hyped chip manufacturers, whose hardware seemed to be the basis for successful applications of artificial intelligence, could lose their stock exchange story. The bubble apparently runs out the air thanks to the Chinese.
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Image: Justin Sullivan (Getty Images North America)
Source: Nachrichten
