Nvidia loses nearly $1.4 trillion in market value since October record
Nvidia just dropped 9 percent in a single day.
The short version
- The company is now worth about $4.4 trillion.
- Other chip makers fell hard too.
- If you hold tech funds or index funds in your 401(k), check your balance.
- Big market drops hit retirement accounts across the board.
Nvidia, the massive chip maker that powers modern artificial intelligence, is on track for its fifth straight losing week. The slide since its October record has now erased nearly $1.4 trillion in market value, according to Yahoo Finance. Thursday did a lot of the damage as the company closed down more than 9 percent.
That single session knocked nearly $450 billion off its market value and left the company worth about $4.4 trillion. It was the stock's worst day since the DeepSeek sell-off in January 2025. Other chip companies felt the pain as well.
AMD, Micron, and Arm suffered steep double-digit losses, while Broadcom and Taiwan Semiconductor fell more than 10 percent. The wider chip index had its worst day since March 2020 and sits more than a third below its June record. The trigger this time is Washington.
Democrats won both chambers of Congress, and candidates in both parties campaigned against AI data centers, the buildings that run on Nvidia's chips. The Senate came close to passing a bill this fall that would have made data centers pay more of the power costs they create.
Losing streaks this long do not come often for Nvidia. Since its 1999 initial public offering, the stock has strung together five or more down weeks just 12 times before this one. The longest ran seven weeks in the summer of 2008.
There will be congressional hearings, Stifel's Brian Gardner told Reuters ahead of the vote. Check your retirement statements this week to see how your funds weathered the storm.
