Nasdaq slumps on Chinese AI upstart, Nvidia loses some $400 billion in value

Jan 27, 2025 - 23:00
Nasdaq slumps on Chinese AI upstart, Nvidia loses some $400 billion in value

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The Nasdaq tumbled 2.7 percent early Monday due to the emergence of DeepSeek, a low-cost Chinese generative AI venture, challenging US tech companies. Major AI players like Nvidia, Meta, and Microsoft saw significant stock drops as investors reevaluate the competitive landscape and investment outlook.

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