The emergence of Chinese artificial intelligence firm DeepSeek rocked US tech giants’ stocks on Monday night amid concerns that the new low-cost AI model would upend their dominance. Tech shares plunged and chip maker Nvidia suffered falls of nearly 17% on Monday, as President Donald Trump warned DeepSeek’s emergence was a “wake up call” for existing AI giants. #DeepSeek #Nividia
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00:00Hello, my name is Greg Wright, I'm the Deputy Business Editor of the Yorkshire Post.
00:05The emergence of the Chinese artificial intelligence firm DeepSeek has rocked US tech giants amid
00:13concerns the new low-cost AI model could affect their performance.
00:19Tech shares plunged and chipmaker Nvidia suffered falls of nearly 17% on Monday as US President
00:25Donald Trump warned that DeepSeek's emergence was a wake-up call for existing AI companies.
00:32Nvidia's drop in share price marked the biggest ever one-day loss in market value on Wall
00:36Street of about US$589 billion.
00:42Just a week after its launch, DeepSeek has become the most downloaded free app in the
00:47US.
00:48My name is Greg Wright, I'm the Deputy Business Editor of the Yorkshire Post.