Nvidia shares fall 12% as Chinese AI startup DeepSeek triggers panic selloff on Wall Street
1. DeepSeek, a Chinese AI startup, threatens US dominance in AI. 2. Nvidia shares fell nearly 12% amid global selloff in chip companies. 3. DeepSeek developed a competitive AI model for under $6 million. 4. US companies remain strong due to access to advanced chips. 5. US government announced a $500 billion AI initiative to maintain leadership.