Global investors are worried the emergence of a low-cost Chinese AI model will threaten the dominance of AI leaders.

The release of a less capital-intensive artificial intelligence model from China’s DeepSeek sent a chill through the U.S. stock market Monday, initiating a massive selloff led by Nvidia and hitting billionaires where it hurts—their fortunes.

KEY TAKEAWAYS Nvidia and other artificial intelligence stocks at the forefront of the AI revolution are rebounding somewhat Tuesday after a selloff triggered by Chinese startup DeepSeek’s launch of a cutting-edge model at a fraction of the cost of its U.