---
title: "RMB 2.9 Trillion! NVIDIA's Market Cap Drops by One CXMT in a Single Day; Jensen Huang Falls Out of Top 10 Global Rich List"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/304577272.md"
description: "Affected by the Democrats regaining control of Congress, U.S. tech stocks were sold off, with NVIDIA's stock price plunging 9.26%. Its market cap evaporated by approximately RMB 2.9 trillion in a single day, causing Jensen Huang to drop out of the top 10 on the global rich list. Elon Musk's net worth also shrank significantly, but he remains the world's richest person. The market experienced severe volatility due to a reassessment of the outlook for AI infrastructure and semiconductor capital expenditures"
datetime: "2026-11-06T04:30:06.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/304577272.md)
  - [en](https://longbridge.com/en/news/304577272.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/304577272.md)
generator: "portal-rs"
---

# RMB 2.9 Trillion! NVIDIA's Market Cap Drops by One CXMT in a Single Day; Jensen Huang Falls Out of Top 10 Global Rich List

U.S. tech stocks faced a comprehensive sell-off on Thursday (5th). The AI bellwether, NVIDIA, plunged 9.26%, with its market capitalization evaporating by USD 447 billion (approximately RMB 2.9 trillion CNY/USD) in a single day. This not only erased its gains for the year but was equivalent to "losing one CXMT." The latest market cap of CXMT is approximately RMB 2.7 trillion CNY/USD.

According to China's "21st Century Business Herald," this sell-off directly hit the list of tech billionaires. According to the Bloomberg Billionaires Index, Jensen Huang's net worth shrank by USD 15.1 billion (approximately RMB 100.7 billion CNY/USD) in a single day, dropping to USD 150.9 billion, and his ranking slipped from 9th to 13th.

Elon Musk fared even worse. SpaceX and Tesla fell sharply by 9.05% and 10.77% respectively on Thursday. Combined with Wednesday's (4th) declines, the value of these two holdings evaporated by USD 456 billion (approximately RMB 3.04 trillion CNY/USD) over the past two trading days. Musk's net worth has shrunk by over USD 100 billion since the midterm elections, falling below the USD 800 billion mark, but he still firmly holds the title of the world's richest person. Oracle co-founder Ellison also saw his net worth decrease by USD 10.1 billion on the same day.

The report pointed out that the decline stemmed from investors reassessing the outlook for AI infrastructure and semiconductor capital expenditures after the Democrats regained control of Congress. As the global AI chain undergoes a drastic market cap reassessment, the scale of Chinese memory players like CXMT is becoming a new benchmark for measuring this volatility.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**