Nvidia, Oracle in trouble as ChatGPT is losing AI battle against China's DeepSeek? Here is what experts are saying
Nvidia, Oracle and other Artificial Intelligence firms are experiencing an unexpected jolt Chinese startup DeepSeek's AI Assistant on Monday became the top-rated free application available on Apple's App Store in the United States overtaking rival ChatGPT, according to reports.
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While, shares of AI chipmaker Nvidia fell 10 per cent, rival Oracle dropped 8 per cent and AI data analytics company Palantir lost 7 per cent in pre-market trading, the impact of DeepSeek will be deeper, experts have claimed.
In Europe, ASML which counts Taiwan's TSMC, Intel and Samsung as its customers, dropped almost 11 per cent, while in Japan, startup investor SoftBank Group slid more than 8 per cent. Last week it announced a $19 billion commitment to fund Stargate, a data-centre joint venture with OpenAI.
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