Stocks Sink in Broad AI Rout Sparked by China's DeepSeek
Technology stocks tumbled Monday on news that China’s DeepSeek had trained a sophisticated artificial-intelligence model at a fraction of the cost of its Silicon Valley rivals, triggering a sudden reversal of the recent AI rally.
Nvidia, whose chips have been used to power many of the leading AI models, sank 17%. The move wiped out $589 billion from the company’s market value and tarnished one of the stock market’s brightest stars.
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