NVIDIA, SPACEX AND ORACLE LOSE NEARLY $105 BILLION

NEW YORK, NOVEMBER 6 /SRNA/ – The combined net worth of Nvidia CEO Jensen Huang, SpaceX founder Elon Musk and Oracle co-founder Larry Ellison fell by $104.9 billion following a stock market decline after the Democrats' victory in the US elections, Bloomberg News reported.

Musk suffered the largest losses, with his net worth falling by $79.7 billion. Huang's wealth declined by $15.1 billion to $150.9 billion, dropping him from ninth to 13th place on Bloomberg's wealth ranking. Meanwhile, Ellison lost $10.1 billion.

Bloomberg noted that expectations that the Democratic-controlled House of Representatives and Senate would seek to restrict the construction of data centres, a key component of artificial intelligence infrastructure, contributed to the decline in shares of semiconductor manufacturers and computing power suppliers.

Nvidia shares fell by 9.3 per cent, marking the company's biggest decline since January last year, while SpaceX fell by nine per cent and Oracle by 6.9 per cent.

Elections to the US Congress were held on November 3. Americans voted for 35 of the 100 Senate seats and all 435 seats in the House of Representatives. Gubernatorial elections were also held in 36 states.

According to the latest estimates by US media outlets, Democrats secured majorities in both chambers of Congress. Republicans currently hold majorities in both the Senate and the House of Representatives.