Nvidia drops $600bn off its market cap amid the rise of DeepSeek
1. DeepSeek's R1 model shows AI can thrive without high-cost hardware. 2. Nvidia's stock dropped 16.9%, losing nearly $600 billion in market cap. 3. U.S. chip export restrictions exacerbate Nvidia's competitive challenges internationally. 4. Nvidia's current scaling laws face scrutiny amid shifting AI landscape.