DeepSeek’s blow proved costly for Nvidia
New Delhi| There has been a big earthquake in the global stock market of Chinese AI developer DeepSeek. With its impact, the world’s 500 richest people suffered a total loss of $108 billion. This also includes the name of Nvidia co-founder Jenson Huang.
China’s low-cost AI model has raised investor concerns. Due to this concern, investors from all over the world sold shares of tech companies heavily on Monday. Due to its impact, the index Nesdaq based on tech shares fell by 3.1%. Chip manufacturing company Nvidia suffered its biggest loss. The company’s shares fell as much as 17%, and the company’s market cap dropped by $593 billion in a single day.
