Nvidia loses $500bn in tech stock value after AI market rout

While the slide came after a torrid rally to all-time highs, Monday's rout was triggered by a rise of DeepSeek’s latest AI model to the top of the Apple’s app store

Nvidia, the poster child of the AI frenzy, sank 17% — wiping out $589bn (€561.5bn) of its value in the biggest market-cap loss for a single stock in market history.

Wall Street had a rough start to the week on concerns that a cheap AI model from Chinese startup DeepSeek could make valuations of the technology that has powered the bull market tough to justify.

From New York to London and Tokyo, equities got hit. While the slide came after a torrid rally to all-time highs, yesterday’s rout was triggered by a rise of DeepSeek’s latest AI model to the top of the Apple’s app store.