Nvidia (NASDAQ:NVDA) was among the tech stocks that slumped on Monday after Chinese startup DeepSeek last week unveiled its large language model, which seemed to give its American counterparts a run for their money.

Key Takeaways The S&P 500 and Nasdaq plunged at midday when Chinese artificial intelligence startup DeepSeek shook up the sector with a lower-cost large language model.Shares of chip makers, power providers,

Shares of semiconductor makers were dropping early Monday as a Chinese AI model triggered questions over their lofty valuations.