Nvidia lost more market value Monday than the total valuations of American stalwarts UnitedHealth, Costco and Bank of America.

In what marks the largest single-day drop in stock market history, Nvidia's valuation has been hit by China's answer to ChatGPT.

Nvidia shares' 9% recovery Tuesday was the second-best day in terms of market cap added for any company ever—but the company faced another selloff Wednesday.

Then there is the hype question. Since Chat GPT set off the AI gold rush in late 2022, Nvidia has been the ultimate “picks and shovel” play. But like investment in the early days of the internet, the AI boom has so far been based more on the belief that it will change everything than hard evidence that it can generate returns.

Chinese startup DeepSeek has debuted an AI app that challenges OpenAI's ChatGPT and other U.S. rivals, sending a shock through Wall Street.

Nvidia, led by boss Jensen Huang (pictured), lost almost $600bn in value, after China claimed its new Deepseek AI chatbot was far more efficient than rivals

Nvidia faces new threats as China's DeepSeek challenges AI chip dominance, shaking markets. Can Nvidia maintain its competitive edge?

Shares of chipmaker Nvidia plunged Monday, for its worst day since the global market sell-off in March 2020 triggered by the coronavirus pandemic.

Retail investors bought a net $562 million of Nvidia stock on Monday, the largest single-day inflow in at least 10 years, VandaTrack said.

Chinese AI startup DeepSeek has shaken up the tech industry with its new chatbot, Deepseek R1, which claims to match or outperform top AI models like ChatGPT at a fraction of the cost.

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Microsoft, MSFT, CEO Satya Nadella is expected to talk about DeepSeek, Stargate, Azure, Copilot, AI, GenAI and more on the tech vendor’s 2Q 2025 earnings call.