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EQUITIES: Nvidia Plunges Following DeepSeek Headlines

EQUITIES
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  • Nvidia shares plunged 17%, erasing $589b in market value, the largest single-day loss in U.S. stock market history, amid concerns over Chinese AI startup DeepSeek's low-cost, competitive AI model. The selloff, which rippled through broader markets, was driven by fears that DeepSeek's efficiency-focused technology could disrupt the AI industry's reliance on expensive, high-end chips, a market dominated by Nvidia. DeepSeek's rise, despite U.S. export bans on advanced semiconductors, highlights China's growing innovation in AI.
  • Broader markets followed suit, with the S&P 500 shedding 1.5% and the Nasdaq 100 dropping about 3%. Energy and utilities stocks tied to AI trends were also hit hard, with Vistra Corp., GE Vernova, and Constellation Energy suffering record declines of 28%, 22%, and 21%, respectively.
  • In contrast, Apple rose 3.3%, reclaiming its position as the largest company by market value, while Meta gained 1.9%. Smaller tech companies showed mixed results: Aurora Mobile surged 142% after announcing DeepSeek integration, while MicroCloud Hologram gained 8.4%. 
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  • Nvidia shares plunged 17%, erasing $589b in market value, the largest single-day loss in U.S. stock market history, amid concerns over Chinese AI startup DeepSeek's low-cost, competitive AI model. The selloff, which rippled through broader markets, was driven by fears that DeepSeek's efficiency-focused technology could disrupt the AI industry's reliance on expensive, high-end chips, a market dominated by Nvidia. DeepSeek's rise, despite U.S. export bans on advanced semiconductors, highlights China's growing innovation in AI.
  • Broader markets followed suit, with the S&P 500 shedding 1.5% and the Nasdaq 100 dropping about 3%. Energy and utilities stocks tied to AI trends were also hit hard, with Vistra Corp., GE Vernova, and Constellation Energy suffering record declines of 28%, 22%, and 21%, respectively.
  • In contrast, Apple rose 3.3%, reclaiming its position as the largest company by market value, while Meta gained 1.9%. Smaller tech companies showed mixed results: Aurora Mobile surged 142% after announcing DeepSeek integration, while MicroCloud Hologram gained 8.4%.