Nvidia experienced a historic $589 billion market value loss, triggered by Chinese startup DeepSeek’s AI breakthrough. DeepSeek’s affordable R1 AI model, rivaling top Silicon Valley models, raised concerns about sustainability and affected major tech stocks. This development signifies a significant challenge to US dominance in AI, prompting a reevaluation of AI investment economics.
‘Hindenburg on US stocks’: How China’s DeepSeek shook foundations of US tech giants
