US tech titans Elon Musk, Mark Zuckerberg and Jeff Bezos are taking a prominent place in the new Trump era, but another player from another era -- Oracle boss Larry Ellison -- is making a surprise return.

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.

The American markets were spooked by the DeepSeek AI storm on Monday, January 27. While Dow Jones closed in green with minor gains, the tech-heavy Nasdaq closed with colossal losses of 612.47 points, or 3.07 per cent of its total value.

The fortunes of the world’s wealthiest took a sharp hit on Monday, with $108 billion wiped out in a tech-driven sell-off spurred by DeepSeek, a Chinese AI app that overtook ChatGPT as the most popular AI tool.

A company called DeepSeek said it had developed a large language model that can compete with U.S. AI giants but at a fraction of the cost.

TikTok's fate remains uncertain as Apple, Google, and Oracle have differing approaches due to their interests. Trump's support for Oracle and potential buyers adds to the drama.

During a press conference on Tuesday afternoon, President Donald Trump floated the idea of Elon Musk or Larry Ellison purchasing TikTok, while also proposing that the U.S. government take a significant share of the transaction.

Rivaling Huang’s drop Monday was a $29.4 billion loss for Oracle chairman Larry Ellison, as Oracle stock ... but there was one notable exception, Apple, whose shares rose more than 4%.

Here's a 2025 conundrum for Apple, Google, and Oracle when it comes to TikTok: Do they follow President Trump's orders? Or do they follow the law?

Apple Inc. and Oracle Corp. have reacted differently to President Donald Trump’s pledge that the U.S. government won’t enforce a national security law raising potential penalties for U.S. partners of

Apple Inc. and Oracle Corp. have reacted differently to President Donald Trump’s pledge that the U.S. government won’t enforce a national security law that raised potential penalties for U.S. partners of the popular video app TikTok.