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.

from Times of India https://ift.tt/8dH2QVU