Shares in Nvidia, whose semiconductors power the AI industry, fell nearly 17 percent on Wall Street, erasing nearly $600 billion of its market value.

Major AI players, including Nvidia, Meta, Microsoft, and Alphabet, saw significant losses, with Nvidia shedding over 11% and losing $400 billion in market value. Analysts highlighted China’s growing challenge to US tech dominance.

Chipmakers Nvidia and Broadcom both suffered double-digit percentage declines after the exhibit from China's DeepSeek. Software giant Oracle, a central player in the Trump administration's recently announced $500 billion AI partnership,