The emergence of low-cost AI chatbot DeepSeek has caused shockwaves on Wall Street, with Nvidia losing more than $500 billion in market value.
Shares in other major US technology firms have fallen steeply in value since markets opened Monday.
The DeepSeek app, launched last week, has overtaken rivals including ChatGPT to become the most downloaded free app in the US.
Shortly after US markets opened, DeepSeek says it was hit with a large-scale malicious attack.
China's DeepSeek was reportedly developed for a fraction of the cost of its rivals, raising questions about the future of America's AI dominance and the scale of investments US firms are planning.
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