DeepSeek, a Chinese AI lab, has launched a groundbreaking, free, and efficient AI model, shaking the foundations of the U.S. AI sector. This upheaval led to Nvidia experiencing its largest single-day stock loss ever, tumbling 17% and impacting the broader tech market, which saw major companies like Broadcom and Oracle also decline significantly. Notably, Nvidia's market value was wiped by $590 billion in one day, raising questions about the future of the company amid an increasingly competitive landscape.
The release by the Chinese AI lab DeepSeek of a faster, free AI model sent shockwaves through the U.S. AI sector, significantly impacting Nvidia.
Nvidia's stock suffered the largest single-day loss in history, plummeting 17% and erasing $590 billion in market capitalization.
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