Shares in the advanced computer chip maker Nvidia plunged overnight after investors became concerned by a Chinese artificial intelligence program called DeepSeek.
The Chinese startup is a direct competitor to ChatGPT and has become the number one downloaded free application on the US App Store.
Elon Musk has reportedly accused DeepSeek of lying about the number of Nvidia chips it had accumulated.
Nvidia shares plunged almost 17 per cent, which equates to almost $AUD1 trillion.
The Chinese startup is a direct competitor to ChatGPT and has become the number one downloaded free application on the US App Store.
Elon Musk has reportedly accused DeepSeek of lying about the number of Nvidia chips it had accumulated.
Nvidia shares plunged almost 17 per cent, which equates to almost $AUD1 trillion.
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