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CNBC Daily Open: DeepSeek batters Nvidia but reinforces AI trend

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

DeepSeek raises questions on AI investments
Chinese artificial intelligence startup DeepSeek on Monday released its reasoning model R1, which rivals the capabilities of OpenAI's o1. The model could have cost less than 10% of Meta's Llama, according to Jefferies estimates. That fanned fears that the huge investments into AI by U.S. firms are unwarranted. U.S. President Donald Trump said Monday that DeepSeek "should be a wake-up call" for American tech companies.

Nvidia's $600 billion plunge
Nvidia shares plunged nearly 17% on Monday, its worst day since March 2020, on price concerns that DeepSeek raised. The chipmaker lost close to $600 billion in market cap, the biggest drop for any company on a single day in U.S. history. Still, Nvidia described DeepSeek as "an excellent AI advancement," suggesting that the development is a boon for the company rather than a weight on its chip sales.

Energy shares fizzle out
Power companies most exposed to the tech sector's data center boom plunged Monday, as DeepSeek's claims led investors to question how much energy artificial intelligence applications will actually consume. Vistra closed nearly 30% lower while Talen Energy and GE Vernova tumbled more than 20%. All three stocks gave up this year's gains.

Tech shares battered
Major U.S. benchmarks fell Monday on a broad retreat by semiconductor and AI-related stocks, though the Dow Jones Industrial Average managed to advance. Japan's Nikkei 225 dropped around 1.5% as the country's chip stocks, affected by

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