The recent AI advances by Chinese upstart DeepSeek could be the beginning of a potential nightmare scenario that Nvidia Corp. Chief Executive Jensen Huang has been worrying about since the chip maker's meteoric rise.
CNBC's Jim Cramer reviewed Monday's market action as AI start-up DeepSeek disrupted the tech sector, sending Nvidia into a tailspin. He told investors to sit on their hands and make no sudden moves, saying now is neither a buying nor a selling opportunity.
A general re-think on AI spending led the bearish sentiment, with China's reported DeepSeek AI open-source module reportedly having been developed in two months and costing no more than $6 million.
Nvidia Corp. shares erased nearly $590 billion off of their market capitalization on Monday, the biggest daily loss in the history of the U.S. market, according to Dow Jones Market Data.
Monday's DeepSeek-driven selloff could be an opportunity to pick up beaten-down AI stocks, according to some Wall Street analysts.
Dan Niles, Niles Investment Management founder, joins 'Fast Money' to talk the massive sell-off as AI jitters hit the biggest names in tech.
American AI stocks got sucker punched after China's DeepSeek app reportedly showed advancements against rivals sending investors into sell mode, shaving 3% off the Nasdaq.
DeepSeek, a Chinese AI startup, became the talk of the proverbial AI town when it released its R1 model on Friday. R1's functionality and accuracy compared to its U.S. counterparts, despite using less resources and less compute power, seems like a win for the overall AI industry.
Nvidia (NVDA -16.97%) stock saw a dramatic sell-off in Monday's trading following developments that have raised questions about the demand outlook for its advanced processors. The artificial intelligence (AI) leader's share price closed out the day's trading down 17.2%.
Patrick Moorhead, Moor Insights & Strategy CEO, joins 'Closing Bell Overtime' to talk Nvidia selling off amid competition from Chinese AI startup DeepSeek.
Shares of Nvidia (NVDA) tumbled Monday after the release of a sophisticated artificial intelligence model from a Chinese startup prompted a reckoning on Wall Street regarding AI spending.
DeepSeek, a Chinese artificial intelligence (AI) startup founded in 2023, is gaining attention following the January 20th release of its open-source R1 model, which rivals OpenAI's o1 model. Market Domination host Julie Hyman explains the new AI chatbot, noting that the model's intrigue is due in part to its cost-efficient development without Nvidia's (NVDA) advanced chips, potentially breaking export restrictions.