How Chinese AI upstart DeepSeek triggered a tech stock MELTDOWN - and what investors should do NOW as share price plunge
As 'black swan' events go it takes some beating. Barely a week ago few people had heard of a Chinese technology start-up called DeepSeek. Fewer still knew anything about its reclusive, low-profile founder Liang Wenfeng. All that changed today. Shares in US chip giant Nvidia crashed nearly 18 per cent - wiping £500billion off its stock market valuation - on news that DeepSeek's artificial intelligence tool had become the most downloaded iPhone free app, overtaking OpenAI's ChatGPT chatbot.
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