Several notable billionaires experienced massive hits to their fortunes Monday as the Chinese generative artificial intelligence startup DeepSeek upended the U.S. stock market, hitting the American AI leader Nvidia the hardest.

Nvidia co-founder Jensen Huang's wealth dropped $20.1 billion as Nvidia shares fell 17% amid fears that DeepSeek's low-cost AI model could disrupt the tech industry. Nvidia lost $593 billion in market value,

Jensen Huang likely had an especially bad case of the Mondays when DeepSeek came to town. Of course, as one of the richest people in the world, the co-founder of Nvidia ended up skating away virtually unscathed.