Nvidia shares sink as Chinese AI app spooks markets

Nvidia experienced a significant financial hit with a decline in stock value exceeding a sixth, driven by the sudden rise in popularity of DeepSeek, a Chinese artificial intelligence chatbot. This app, which rapidly became the top free download in the US, is said to be developed at a fraction of the cost associated with its competitors in the AI space. The market impact was not limited to Nvidia; other prominent tech firms with stakes in AI, including Microsoft and Google, also saw substantial decreases in their stock values.

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