Global investors dumped tech stocks amid the emergence of a low-cost Chinese AI model, leaving Nvidia with a record one-day loss for any company on Wall Street.

The Chinese AI service has Wall Street worried that it will be cheaper than expected to develop models. But as chip stocks sink, some analysts see a silver lining.

DeepSeek released an open-source artificial intelligence model in December, saying it took only two months and less than $6 million to create it.