The developer of the chatbox that shocked U.S. incumbents had access to Nvidia chips that its parent company providentially acquired just before a 2022 U.S. export ban.

The emergence of DeepSeek came shortly after President Trump unveiled his "Stargate" project to invest $500bn in advancing AI.

Top White House advisers this week expressed alarm that China's DeepSeek may have benefited from a method that allegedly piggybacks off the advances of US rivals called "distillation."

Two members of U.S. Congress are calling on President Donald Trump's administration to consider restricting the export of artificial intelligence chips made by Nvidia , alleging Chinese AI firm DeepSeek has relied on them.

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,

Stocks gave up earlier gains Friday as the White House reaffirmed President Donald Trump’s plan to implement some of his long-promised tariffs Saturday, with the market closing out a whirlwind week highlighted by Nvidia’s record-breaking losses in reaction to China’s DeepSeek cheaper AI model and a flurry of earnings reports.

DeepSeek stunned the tech world with the release of its R1 "reasoning" model, matching or exceeding OpenAI's reasoning model for a fraction of the cost.

Nvidia crossed below its 200 day moving average for the first time since 2023 this week. Analysts say the correction could deepen.