Nvidia faced a historic $600 billion market loss on Monday, marking the largest single-day drop in U.S. history. Its stock plummeted 17% to $118.58, driven by fears of rising competition from China’s DeepSeek AI. DeepSeek’s affordable, open-source AI model, powered by Nvidia’s H800 chips, has raised concerns about weakening demand for Nvidia’s GPUs. However, analysts argue that AI’s rapid growth will boost demand for computing power, benefiting Nvidia in the long run. The stock plunge also triggered sell-offs in tech giants like Broadcom (-17%), Oracle (-14%), and Dell. Nvidia’s CEO, Jensen Huang, saw his net worth shrink by $21 billion.