A lot of people and institutions lost a lot of money as Nvidia Corp. (NASDAQ: NVDA) shed $590 billion in market cap when the tech world realized how good the new Chinese DeepSeek artificial intelligence (AI) software is.

Nvidia ( NVDA) CEO Jensen Huang’s net worth plunged $18 billion Monday as the chipmaker’s stock continues to free fall. Huang was worth $106.3 billion as of Monday morning, down nearly 15%, according to Forbes Real-Time Billionaires list. Huang has an approximately 3% stake in Nvidia.

That reflects a tug-of-war between two types of investors; those who believe Jensen Huang, Nvidia’s leather-jacketed rockstar boss, is a seer and can sustain his firm’s monopoly-like profits indefinitely;