Global tech stocks tank as China’s DeepSeek triggers AI race debate

Japanese technology shares fell on Tuesday as a global market rout sparked by the emergence of a low-cost Chinese artificial intelligence model entered day two, with investors questioning the sky-high valuation and dominance of AI bellwethers.

Shares of Nvidia, the poster child of the AI boom in recent years, dragged US stocks lower, sinking 17% on Monday and wiping $593 billion from the chipmaker’s market value, a record one-day loss for any company.