DeepSeek topped the Apple AppStore chart and sparked fears the Chinese company is quickly catching up with OpenAI's ChatGPT while costing far less.

KEY TAKEAWAYS A slew of artificial intelligence stocks, including chip maker Nvidia, are tumbling in premarket trading Monday after Chinese startup DeepSeek released a cutting-edge AI model that runs on less-advanced chips and at a lower cost than U.

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The Nasdaq could face market-cap losses of nearly $1 trillion if premarket declines hold into the close of trading.

US tech stocks faced a significant blow on Monday after Chinese AI startup DeepSeek challenged America’s dominance in the industry.

Semiconductor stocks are getting hit with a wave of bearish pressures following news that the U.S. will take new steps to limit the export of advanced chips used for AI.

Barrett Woodside, co-founder of the San Francisco AI hardware company Positron, said he and his colleagues have been abuzz about DeepSeek.

US stock index futures tumbled in early Asian trading hours Monday amid concerns that an artificial intelligence model from China’s DeepSeek may disrupt the tech market. S&P 500 futures fell as much as 1 per cent as of 10:12 am in Hong Kong,