US stock market: Nvidia faces historic $600 billion loss as Chinese AI competitor DeepSeek emerges
January 28, 2025 12:04 ISTUS stock market: Wall Street experienced a major jolt as DeepSeek, a Chinese artificial intelligence (AI) startup, entered the global tech scene with groundbreaking advancements. The emergence of DeepSeek as a serious competitor in the AI industry triggered a massive sell-off in US tech stocks.