Summary

Global tech stocks plunged after the launch of DeepSeek, a low-cost AI model by Chinese startup DeepSeek, sparked investor concerns over the dominance and valuation of AI giants like Nvidia.

Nvidia shares fell 17%, wiping $593 billion in market value—the largest single-day loss for any company.

The selloff impacted chipmakers, AI firms, and datacenter companies globally.

Analysts view DeepSeek’s cost-efficient model as intensifying competition, potentially challenging U.S. tech dominance.