IT News on November 6th: Following the conclusion of the U.S. mid-term elections, on November 5th, there was a large-scale sell-off in the U.S. stock market, with technology stocks and the AI hardware industry chain being the main sectors that experienced declines.
Forbes' real-time list of billionaires shows that Elon Musk's wealth decreased by $91.2 billion in a single day. Michael Dell, the founder of Dell Technologies, NVIDIA CEO Jensen Huang, Larry Ellison, the founder of Oracle, and Mark Zuckerberg, the founder of Meta, also experienced significant reductions in their wealth. The combined wealth of these five individuals decreased by $152.9 billion (Note from IT: The current exchange rate is approximately 1.02 trillion yuan).
According to a report by Reuters on November 5, investors are re-evaluating the impact of the U.S. mid-term election results on the construction of AI data centers, concerned that the Democratic Party's gain in Congress could lead to a slowdown in data center expansion. As a result, there has been a concentrated sell-off in technology stocks and semiconductor stocks. Reuters noted that the Philadelphia Semiconductor Index fell by about 12% on that day, recording the second-largest one-day decline in history.
All three major U.S. stock indices closed significantly lower. According to data from The Associated Press, the Dow Jones Industrial Average fell by 3.4%, the S&P 500 index fell by 4.4%, and the Nasdaq Composite Index fell by 5.5%. The Nasdaq index has retreated 11.9% from its recent high and has entered a technical correction zone.
In terms of individual stocks, NVIDIA fell by 9.3%, AMD fell by 17.3%, Dell Technologies fell by about 15%, and Tesla fell by about 10.8%. Bloomberg reported that both Tesla and SpaceX experienced a intraday decline of about 11% on that day, with AI chip and data center-related stocks becoming the hardest-hit areas for market selling.
Forbes' real-time list of billionaires shows that the net worth of five global tech billionaires decreased on a single day as follows:
- Elon Musk: Reduction of $91.2 billion, a decline of 10.50%.
- Michael Dell: Reduction of $20.5 billion, a decline of 9.60%.
- Jensen Huang: A decrease of $15.1 billion, representing a decline of 8.70%.
- Larry Ellison: A reduction of $13.2 billion, a decline of 8.05%.
- Mark Zuckerberg: A decrease of $12.9 billion, representing a decline of 5.98%.
The combined net worth of these five individuals decreased by $152.9 billion, with Musk's own wealth reduction accounting for approximately 59.6% of the total.
