DeepSeek AI model sends shockwaves through US tech firms as stocks plunge

Nvidia shares tanked on Monday (Alamy/PA)

The emergence of Chinese artificial intelligence firm DeepSeek rocked US tech giants’ stocks on Monday night amid concerns that the new low-cost AI model would upend their dominance.

Tech shares plunged and chip maker Nvidia suffered falls of nearly 17% on Monday, as President Donald Trump warned DeepSeek’s emergence was a “wake up call” for existing AI giants.