Nvidia accounted for one in fourteen of every S&P 500 shares traded last week, as the company reeled from Deepseek’s AI breakthrough.
A new Global Trading visualization shows how trading volume in US chipmaker Nvidia more than doubled in last week, with 433 million shares traded, more than double the previous week’s average daily volume (ADV). The surge was prompted by news that Chinese AI startup Deepseek had released a large language model that could outperform rival US-owned LLMs at less than a twentieth of the cost, undercutting the business case for Nvidia’s expensive graphical processing units (GPUs) which are used to perform AI calculations. The news led to an 18% fall in Nvidia’s share price, with an annualised realised volatility of 140%.
S&P 500 Interactive Treemap
In our visualisation, the chart has two adjustable parameters – the size of rectangles that denote individual S&P 500 stocks, and the colour of the rectangle. For the size, you can choose four options – ADV for the past year, ADV for the week ending 31 January, ADV for week ending 24 January (before the Deepseek news), and market cap. For the colour, you can choose from volatility or return for the weeks ending 31 January and 24 January, as well as the one-year return. Click on an individual rectangle to see the data for a particular stock, and click on the header labels to return to a sector or overall index view.
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