The shocking success of a new model from a mysterious Chinese lab has America questioning its leadership of the sector.

DeepSeek topped the Apple App Store chart and sparked fears the Chinese company was quickly catching up with OpenAI's ChatGPT while costing far less.

Global chip stocks slumped Monday on DeepSeek revealing it had developed AI models that nearly matched American rivals despite using inferior chips.

The S&P 500 fell 1.9% Monday. Big Tech stocks took some of the heaviest losses, with Nvidia down 17.6%, and they dragged the Nasdaq composite down 3.3%.

Wall Street is tumbling on fears the big U.S. companies that have feasted on the artificial-intelligence frenzy are under threat from a competitor in China.

Chipmakers Nvidia and Broadcom both suffered double-digit percentage declines after the exhibit from China's DeepSeek. Software giant Oracle, a central player in the Trump administration's recently announced $500 billion AI partnership,

Wall Street’s superstars are tumbling Monday as a competitor from China threatens to upend the artificial-intelligence frenzy they've been feasting on. The S&P 500 was down 1.9% in midday trading and heading for its worst day in more than a month.

By Nikhil Sharma (Reuters) -European shares slid on Monday as the technology sector joined the retreat in other markets after China's upgraded low-cost, low-power artificial intelligence (AI) model sparked worries about the profits of rivals and the need for costly chips.

Wall Street is tumbling on fears the big U.S. companies that have feasted on the artificial-intelligence frenzy are under threat from a competitor in China. The S&P 500 fell 1.9%