Artificial intelligence stocks got a major shake-up when Nvidia (NVDA), the leader in AI chips, notched their largest single-day plunge since 2020. On Jan. 27, Nvidia shares dropped by 17%, wiping out an astonishing $589 billion from Nvidia’s market capitalization.

U.S. officials are investigating whether Chinese artificial intelligence startup DeepSeek skirted American export restrictions on advanced chip sales and bought advanced Nvidia (NVDA) semiconductors through third parties in Singapore,