Business, Finance & Tech
Chinese AI Chatbot Shakes Up Market, Sends Nvidia and Broadcom Shares Tumbling
A new AI chatbot developed by the Chinese startup DeepSeek has made waves in the tech world, sending shockwaves through the stock market, particularly for U.S.-based AI companies. Released just recently, the chatbot has garnered praise for being more advanced and far cheaper to run than its American counterparts, including OpenAI's ChatGPT and Google's Gemini.
The release of DeepSeek’s chatbot has led to significant market repercussions. Shares in major AI-related companies like Nvidia and Broadcom plummeted, with Nvidia suffering its largest loss in stock market history—over $589 billion in value. This has prompted investors to question the massive investments in AI made by U.S. tech firms. According to Aletheia Capital, DeepSeek’s success calls into question the need for such large investments in AI technology in the U.S.
The impact was widespread, with Nvidia, Broadcom, and other chipmakers losing value as demand for the most advanced chips used in AI began to look less critical. Google and Microsoft, major players in AI, also saw their stocks drop. However, some small tech companies, such as Aurora Mobile and MicroCloud Hologram, surged after announcing their use of DeepSeek’s chatbot technology.
As a result, tech stocks overall lost nearly $1 trillion in value on Monday, as investors recalibrate their expectations for the future of AI. The DeepSeek release has certainly shifted the narrative in the AI space, leaving U.S. companies scrambling to adapt.
By: NBC Palm Springs
January 28, 2025
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