Here's wishing you and your family a very happy Chinese New Year!
新年快乐 (Xīnnián kuàilè)!
Major US tech stocks – including Nvidia, Microsoft and Tesla – suffered a stunning $1 trillion rout on Monday as fears over an advanced Chinese artificial intelligence model triggered hysteria from Wall Street to Silicon Valley.
Chipmaker Nvidia, which rode the AI wave last year to become the richest company in the world, plunged nearly 17% – erasing $589 billion in value in the largest one-day drop in market history – as investors learned about DeepSeek, a China-based startup launched just last month.
DeepSeek’s launch – referred to by tech investor Marc Andreessen as “AI’s Sputnik moment” – triggered a global meltdown that slammed AI firms and chipmakers.



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