DeepSeek demolishes Nvidia’s AI supremacy, CEO loses $21 billion in a day, Trump calls it a wakeup call | 10-point update

On Monday morning US stock markets and the Sillion Valley went into a tailspin after a less known Chinese company’s new AI model rattled the world with its unprecedented AI innovation. DeepSeek threatened the dominance of AI leaders like Nvidia, evaporating $593 billion of the chipmaker’s market value, a record one-day loss for any company on Wall Street.

Global investors dumped tech stocks on Monday leading the tech-heavy Nasdaq to fall 3.1%. Nvidia was the Nasdaq’s biggest drag, with its shares tumbling just under 17% and marking a record single-day loss in market capitalization for a Wall Street stock,