Nvidia boss loses £20bn in record stock rout

The boss of Nvidia is nursing losses of over £20bn as shares tumble from their all-time high. 

Jensen Huang, who founded the US chip designer in 1993, was hit as investors continue to dump the hyped stock. 

Nvidia hit a record $140.76 in June, valuing it at $3.45trillion (£2.62trillion), and pitting it against Silicon Valley titans Apple and Microsoft in a battle to be the world’s most valuable company. 

But shares have fallen by over a fifth since then with Nvidia now worth $2.65trillion (£2trillion). 

The £600bn-plus fall in its value has hurt Huang’s near-4pc stake, which has taken a £24bn hit. 

But the 61-year-old electrical engineer known for his signature leather jacket still has a fortune of more than £72bn. 

Nvidia remains one of the biggest winners of the AI revolution, selling to Google, Microsoft and Meta, which have ploughed billions of pounds into the tech. 

But shares have fallen more than 10pc since it unveiled quarterly results last Wednesday night. 

Despite bumper profits, investors were left feeling flat. 

And Nvidia faced a major sell-off on Tuesday, when more than £213bn was wiped off its value, which is a record loss for any US firm in one trading day. 

Investors have also been spooked amid reports the US Justice Department has sent a legal notice to Nvidia about a competition probe into AI chips 

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