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The Independent UK

Technology

Anthony Cuthbertson

How DeepSeek devastated the US tech industry

United States DeepSeek Nvidia OpenAI

US president Donald Trump described the new artificial intelligence chatbot as a ‘wake-up call’ - (AFP via Getty)

The sudden arrival of a little-known Chinese app called DeepSeek to the top of the app charts over the weekend sent the US tech industry into a trillion-dollar tailspin.

In the space of a few hours, several of the world’s biggest companies saw their stock plummet, with Nvidia experiencing the biggest one-day loss in market value in history – more than $500bn (£402bn).

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