A shocking Chinese AI advancement called DeepSeek is sending US stocks plunging
Tech stocks tumble
US tech stocks got hammered Monday.
Nvidia (NVDA), the leading supplier of AI chips, fell nearly 17% and lost $588.8 billion in market value — by far the most market value a stock has ever lost in a single day, more than doubling the previous record of $240 billion set by Meta nearly three years ago.
For perspective, Nvidia lost more in market value Monday than all but 13 companies are worth — period. Nvidia began the day as the most valuable publicly traded stock on the market — over $3.4 trillion — after its shares more than doubled in each of the past two years. It ended the day in third place behind Apple and Microsoft.