China’s DeepSeek sets off AI market rout

SINGAPORE >> Nasdaq futures slumped and technology shares slid in Japan on Monday as the surging popularity of a Chinese discount artificial intelligence model wobbled investors’ faith in the profitability of AI and the sector’s voracious demand for high-tech chips. Nasdaq 100 futures were down 2.6% and S&P 500 futures slipped 1.4% by the European morning, and shares in Nvidia supplier Advantest fell 8.5% in Tokyo. Frankfurt-listed shares of Nvidia slipped about 7%, while those of Tesla, Amazon and Meta fell more than 2% in early European trading.

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