Altman and Musk were OpenAI’s founding co-chairs in 2015, but their relationship has devolved into name-calling and lawsuits.

While tech bigwigs like Mark Zuckerberg, Jeff Bezos and Elon Musk all plan to be at Donald Trump's inauguration on Monday, the CEO of one of the biggest companies says he will not be there. Nvidia's Jensen Huang, worth an estimated $100 billion, said he will not be in Washington for the event.

A week after the inauguration, the Chinese AI startup DeepSeek wiped billions from the fortunes of some of America's wealthiest tech billionaires.

Jan. 27, 6:30 p.m. EST President Donald Trump said at a House Republican retreat that the launch of the AI model was “a positive development” but should be considered a “wake-up” call for U.S. industries, lauding the move for what he hoped would usher in a future of “coming up with a faster method of AI, and much less expensive method.”

Nvidia's CEO lost $20 billion in net worth in one day. If new Chinese AI software is as good as claimed, his net worth will drop further.

Tesla ( TSLA) CEO Elon Musk seemed to agree with CEO of Scale AI Alexandr Wang suggesting that China's DeepSeek has about 50,000 H100 Nvidia's ( NASDAQ: NVDA) chips, which they can't talk about due to U.S. export controls.

If anything, potentially less demand for Nvidia's AI training chips could actually benefit the EV manufacturer.

OpenAI CEO Sam Altman called Stargate, “the most important project for this era” and promised that all of the new investment his company was making would help cure diseases. Altman was actually prompted by Trump to talk about the medical advances that AI would supposedly figure out.

Vice President JD Vance, backed by Peter Thiel, criticized big tech's influence, stating these companies wield "too much power," despite prominent tech CEOs attending Donald Trump's inauguration.

Owing to US tech stocks crash, billionaires like Nvidias Jensen Huang and Oracles Larry Ellison lost more than $20 billion wealth in a single-day. Popularity of DeepSeek resulted in a frenzy selling in US tech stocks,

US leads the Forbes' 2025 World’s Billionaires List with a record 813 billionaires followed by China with 473.

Top business leaders like Mukesh Ambani, Elon Musk, Jeff Bezos, Mark Zuckerberg, and Tim Cook, are set to attend the inauguration ceremony of US President-elect Donald Trump on January 20. However, Nvidia CEO Jensen Huang has decided to skip the gala event.