Reported 3 days ago
In a challenging day for U.S. and global markets, technology stocks suffered significant losses, particularly among major players like Nvidia and Qualcomm, following the rapid rise of Chinese startup DeepSeek, which launched an AI product that gained popularity over competitors. As DeepSeek's app rapidly climbed the Apple Store download charts, it raised concerns about sustainability of valuations for established companies in the AI space, even as the so-called 'Magnificent Seven' tech giants prepare to report earnings this week.
Source: YAHOO