Reported 1 day ago
A wave of declines hit major tech stocks, including Nvidia, TSMC, and ASML, following the launch of an advanced AI model by Chinese startup DeepSeek, which operates on less powerful chips and at a lower cost than U.S. rivals. This development raises concerns over the valuation of U.S. tech companies and their investments in AI, with Nvidia shares dropping significantly. Despite this, Citi analysts maintained a buy rating on Nvidia, suggesting that while DeepSeek's achievement is impressive, American firms still hold an advantage due to access to advanced chips.
Source: YAHOO