Hype over new AI app DeepSeek causes Nvidia's stock price to plummet

DeepSeek, the latest alternative to ChatGPT and other AI assistants, recently released a new version that's causing chaos and confusion across the AI landscape. With reports about DeepSeek's outstanding performance and power efficiency emerging, established entities like OpenAI and Meta are getting quite nervous. None more nervous than Nvidia, though, whose market cap plummeted in response to the hype over DeepSeek. According to Bloomberg, Nvidia lost a record 569 billion at the start of the week. Companies like Siemens Energy and Oracle also saw their stock prices fall.