FT reported Nvidia's stock plummeting by more than $600 billion due to DeepSeek's success

Shares of the American company Nvidia fell by 16.8% amid the growing popularity of the new model of artificial intelligence Chinese DeepSeek - a competitor of ChatGPT. The Financial Times reported on January 27.

"Nvidia shares closed 16.8% lower. The move wiped out about $600 billion of the chip maker's market capitalization, a record drop for a listed company," the publication said.

It is specified that due to the success of the Chinese AI, shares of the S&P 500 fell by 1.5%, the Nasdaq Composite by 3%, losing almost 612.5 points, and Broadcom by more than 17%. On top of that, Microsoft shares were down 2.14%. Despite this, Apple rose 3% and managed to avoid the fall.

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Earlier, on January 26, BitRiver financial analyst Vladislav Antonov told "Izvestia" about the reasons for the fall of cryptocurrency. According to the specialist, one important reason for the fall of the bitcoin rate was the fall of futures on American stock indices. This was caused by the news that the artificial intelligence model from the Chinese company DeepSeek can upset the balance in the technological sphere, the expert said. Also, the decline in the bitcoin rate is associated with the statement of US President Donald Trump, who called on OPEC + to reduce oil prices, as well as the