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CNBC Daily Open: Nvidia plunges as DeepSeek triggers questions on its value

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 .

$600 billion plunge in Nvidia
Nvidia shares plunged nearly 17% on Monday, its worst day since March 2020, on concerns raised by China's DeepSeek artificial intelligence model. The chipmaker lost close to $600 billion in market cap, the biggest drop for any company on a single day in U.S. history. Other stocks related to AI, such as Micron, Arm Holdings and Broadcom in the U.S., as well as ASML and Tokyo Electron in global markets, also fell sharply.

DeepSeek raises questions on AI investments
Chinese AI startup DeepSeek on Monday released its reasoning model R1, which rivals OpenAI's o1. Its main claim to fame is that the model was built with chips less powerful than those U.S. AI firms use and could have cost less than 10% of Meta's Llama, according to estimates by Jefferies analysts. That fanned fears that the huge investments into AI by U.S. firms are unwarranted and a bubble waiting to pop.

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. The pan-European Stoxx 600 index ticked down 0.07%, recovering from steep

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