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Nvidia's market value dropped more than $500bn after the emergence of DeepSeek - a low-cost chatbot built by a Chinese AI firm.

OpenAI Chief Executive Officer Sam Altman welcomed the debut of DeepSeek’s R1 model in a post on X late on Monday.

US stocks dropped sharply Monday morning after a surprise advancement from a Chinese artificial intelligence company, DeepSeek, threatened the aura of invincibility surrounding America’s technology ...