Nvidia drops nearly 17% as China’s cheaper AI model DeepSeek sparks global tech sell-off

Nvidia and other U.S. technology firms plunged on Monday, part of a global sell-off as Chinese startup DeepSeek sparked concerns over competitiveness in artificial intelligence and America’s leadership in the sector.

Nvidia, the chip designer who has been a major beneficiary of the AI hype, slid 16.9%. With that, the megacap tech stock was on track to notch its worst day since March 2020.

Shares touched lows in the session not seen since October.

Nvidia’s losses helped drive other AI trades and the broader U.S. market down. Micron and Arm Holdings dropped more than 11% and 10%, respectively. Chipmakers Broadcom and Advanced Micro Devices lost more than 17% and 6%, respectively.

Read Full Article Here