Hot News-2/11/25
Nvidia Shares Plummet as Low-Cost AI Emerges from China
Source BBC
Nvidia shares fell 16.9% following the launch of Chinese chatbot DeepSeek, which became the most downloaded free app in the US. DeepSeek, developed for just $6M (versus billions spent by rivals), uses the open-source DeepSeek-V3 model and combines Nvidia A100 chips with cheaper alternatives. Its success triggered drops in other tech stocks including Microsoft (-2.14%) and Google (-4%). This development suggests AI can be developed for much less money than previously thought, which could transform the industry and challenge US dominance in AI.
