Nvidia, AI Chip Peers Tumble On DeepSeek Implications

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…