How China’s Deepseek wiped out billions from market cap of tech superstars

A Chinese AI company, DeepSeek, sparked a significant decline in Wall Street’s tech sector, with major losses for Nvidia and the Nasdaq composite. DeepSeek’s cost-effective AI model challenges U.S. firms, impacting global markets and leading to investor shift towards bonds. Market volatility may continue as Big Tech earnings are announced this week.

​A Chinese AI company, DeepSeek, sparked a significant decline in Wall Street’s tech sector, with major losses for Nvidia and the Nasdaq composite. DeepSeek’s cost-effective AI model challenges U.S. firms, impacting global markets and leading to investor shift towards bonds. Market volatility may continue as Big Tech earnings are announced this week.