News reports that Chinese artificial intelligence lab DeepSeek has created an AI model that rivals U.S. models but at a much lower cost sent shockwaves through AI chip stocks on Monday. Nvidia (NVDA) stock and others plunged. DeepSeek developed its AI system without cutting-edge foreign processors, which China is restricted from obtaining due to U.S. export curbs. The Chinese firm…
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11:10 AM ET Despite posting losses, both the Nasdaq and the S&P 500...