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  • 😱 Nvidia Loses Nearly $600 Billion In Market Value Due To DeepSeek

😱 Nvidia Loses Nearly $600 Billion In Market Value Due To DeepSeek

Marking the company's worst day since the March 2020 market sell-off

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Hey Waivly Crew! 🌊 In today’s edition, we’ve got a variety of topics to explore.

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Here’s what’s on the horizon today:

  • Nvidia loses nearly $600 billion in market value

  • OpenAI launches ChatGPT for government agencies

  • Senators revive bill to ban kids under 13 from social media

  • Nvidia issues RTX 5090 and 5080 stock shortage warning

Let’s dive in!

STORIES MAKING A SPLASH

FINANCE
Nvidia loses nearly $600 billion in market value

Nvidia shares plunged 18% on Monday, marking the company's worst day since the March 2020 market sell-off. The drop came amid a global tech stock rout sparked by concerns over the U.S.'s leadership in the AI sector, particularly after a Chinese AI startup made significant advances.

The market dip wiped out nearly $600 billion in Nvidia's value, the largest market loss in U.S. history, according to Bloomberg. Despite the setback, Nvidia's stock has soared 480% over the past two years, highlighting its role as a major player in the AI boom.

Nvidia acknowledged the rise of DeepSeek, a Chinese AI company whose breakthrough in large language models has taken Silicon Valley by storm. The company sees this as a sign of growing demand for its GPUs, which could benefit from increased AI interest.

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AI
OpenAI launches ChatGPT for government agencies

OpenAI has launched ChatGPT Gov, a version of its chatbot tailored for U.S. government agencies. This new offering includes features from its Enterprise version, including access to the GPT-4 model. OpenAI aims to help government bodies integrate AI responsibly, aligning with democratic values to improve services for the public, as stated in a recent blog post.

Prior to this, government employees at 3,500 agencies had already been using ChatGPT, sending over 18 million messages since 2024. With ChatGPT Gov, these agencies can now self-host the tool on their own Microsoft Azure cloud, enhancing security and control for government IT departments.

This move follows OpenAI's partnership with SoftBank to build $500 billion in AI infrastructure across the U.S. over the next four years, though initial funding commitments have been reported at $19 billion each, far less than originally promised.

TECH SPECIAL

TECH SPECIAL
Senators revive bill to ban kids under 13 from social media

Sens. Brian Schatz (D-Hawaii) and Ted Cruz (R-Texas) are reintroducing the Kids Off Social Media Act (KOSMA), aiming to block platforms from allowing kids under 13 to use their services. After stalling last year, the bill may gain traction due to bipartisan support and the current political landscape.

Cruz, now chairman of the Senate Commerce Committee, is pushing for KOSMA, emphasizing the shared goal of protecting children from social media’s harm. With Republicans controlling Congress, the bill has a stronger chance. KOSMA would also give the FTC more regulatory power over platforms.

If passed, KOSMA would require platforms to delete accounts and data for users under 13 and prevent using minors' data to influence content. Schools would need to block social media on their networks to retain certain subsidies.

TECH SPECIAL
Nvidia issues RTX 5090 and 5080 stock shortage warning

Nvidia is set to launch its RTX 5090 and RTX 5080 graphics cards on January 30 at 9 AM ET, but stocks are expected to be limited. Nvidia’s GeForce head, Tim Adams, confirmed “stock-outs may happen” due to high demand, with more inventory being shipped daily to meet gamer needs.

Retailers and system builders have warned that some RTX 5090 cards may not be widely available until February, with potential delays lasting weeks or even months. PowerGPU revealed supply constraints could persist for the first three months post-launch.

Eager customers are already lining up at Microcenter locations across the U.S., anticipating the scarcity. Both cards will be available online through stores like Best Buy and in select retailers, but the rush to secure one is expected to be intense.

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THE WAVES

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