Nvidia falls 12% in premarket trading as China's DeepSeek triggers global tech sell-off

U.S. technology firms experienced a significant drop in premarket trading due to concerns sparked by Chinese startup DeepSeek’s advancements in AI, which raised questions about America’s competitiveness in the sector. Nvidia shares fell by 11.8%, while Netherlands-based chip companies ASML and ASM International saw declines of 8.9% and 13.6% respectively. DeepSeek’s launch of a cost-effective large-language model that outperformed Western counterparts has led to a global sell-off and raised worries about the future of U.S. technology dominance in AI.

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