Global tech stocks, including Nvidia, Microsoft, and Alphabet, faced a significant selloff due to the emergence of DeepSeek, a cost-efficient Chinese AI model, raising concerns over U.S. AI dominance and future demand for high-cost AI infrastructure.
Nvidia faced its worst single-day stock performance, losing nearly $600 billion in market value due to competition from Chinese AI company DeepSeek, raising concerns over Nvidia's dominance in the AI chip market.
Nvidia faced its worst trading day since March 2020, with shares dropping nearly 17% following the release of DeepSeek's R1, a cost-effective AI model from China. This event has sparked a debate on the future of AI infrastructure and spending.
Global tech stocks, including Nvidia, experienced significant declines following the release of DeepSeek's cost-efficient AI model, R1, challenging Western AI dominance and raising concerns over future hardware investments.