HONG KONG/NEW YORK -- Shares in Nvidia plunged 17% on Monday to wipe out nearly $600 billion in market cap, the biggest single-day loss in U.S. history, in a broad tech sell-off after China's DeepSeek shook confidence in the outlook for spending on artificial intelligence.
Artificial intelligence
DeepSeek crashes Nvidia stock with prospect of cheaper AI
Chinese tech blurs view on artificial intelligence investment
This sudden popularity of DeepSeek has ignited a heated debate about whether American AI giants can maintain their technological dominance. © Reuters
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