Can DeepSeek sparked AI sell-off dent Indian IT shares? Tech view here

Technology-laced US-based NASDAQ tumbled over 3 per cent in trades on Monday, dragged by a massive fall in AI (Artificial Intelligence) giant NVidia shares, which cracked as much as 17 per cent. The sharp fall in NVidia shares saw it market value erode by nearly $600 billion in a single day.

The fall in US-based chipmakers stocks was attributed to the emergence of low-cost China-based AI start-up DeepSeek. According to reports, DeepSeek assistant had overtaken US rival ChatGPT in downloads from Apple’s app store post the launch last week.