KEY TAKEAWAYS A slew of artificial intelligence stocks, including chip maker Nvidia, are tumbling in premarket trading Monday after Chinese startup DeepSeek released a cutting-edge AI model that runs on less-advanced chips and at a lower cost than U.

US stocks opened lower after Chinese startup DeepSeek's AI model shows AI can be built cheaply. That sparked fears AI spending will stall.

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

Wall Street is tumbling on fears the big U.S. companies that have feasted on the artificial-intelligence frenzy are under threat from a competitor in China.

Wall Street is tumbling Monday on fears the big U.S. companies that have feasted on the artificial-intelligence frenzy are under threat from a competitor in China that can do similar things for much cheaper.