Chinese state-linked social media accounts amplified narratives celebrating the launch of Chinese startup DeepSeek's AI models last week, days before the news tanked U.S. tech stocks, according to online analysis firm Graphika.

China’s launch of a cheaper, more efficient version of ChatGPT could challenge Silicon Valley’s dominance in the AI race

The tech-heavy Nasdaq composite closed down nearly 3% on Monday, with shares of AI-focused chipmaker Nvidia plunging 17% and shaving nearly $590 billion from the company’s market cap.

Retail investors bought a net $562 million of Nvidia stock on Monday, the largest single-day inflow in at least 10 years, VandaTrack said.

Chinese AI startup DeepSeek disrupts U.S. tech markets with cost-efficient, open-source models, sparking national security concerns and testing trade restrictions.

The market reaction proved particularly severe for Nvidia (NASDAQ: NVDA), with shares plummeting and erasing half a trillion in market cap at the time of this writing. To put this staggering figure in perspective,