Chinese firm DeepSeek’s advances prove need for more of its chips: Nvidia

Nvidia on Monday said Chinese AI firm DeepSeek’s advances show the usefulness of its chips for the Chinese market and that more of its chips will be needed in the future to meet demand for DeepSeek’s services.

Nvidia issued a statement on Monday after its shares tumbled 17 per cent to $118.58 on investor concerns that DeepSeek had matched rivals such as OpenAI using far fewer Nvidia chips than US firms.