#Nvidia lost close to $600 billion in market cap on Monday, the biggest drop for any company on a single day in U.S. history.
Why is Nvidia's stock dropping?
The dramatic sell-off was triggered by Chinese startup DeepSeek's announcement of their R1 artificial intelligence (AI) model, which reportedly achieves similar performance to Western models at significantly lower cost
The chipmaker’s stock price plummeted 17% to close at $118.58. It was Nvidia’s worst day on the market since March 16, 2020, which was early in the Covid pandemic.
