Nvidia was falling early Friday as politicians and Big Tech firms comment on the effects of Chinese firm DeepSeek’s apparently low-cost AI.

Key Takeaways Nvidia shares tumbled Wednesday, dashing hopes for a quick recovery from losses earlier in the week amid concerns about competitiveness of American AI firms and their spending on artificial intelligence.

For a slew of AI chip companies chomping to dethrone Nvidia, DeepSeek is the opening they’ve been waiting for.

China's DeepSeek last week launched a free assistant it says uses less data at a fraction of the cost of U.S. models. Within days, it became the most downloaded app in Apple's App Store and stirred concerns about United States' lead in AI,

DeepSeek, a Hangzhou-based startup founded in 2023, shot to the top of Apple’s App Store free app chart after releasing a new open-source AI model it says rivals OpenAI's work. Its website was hit by outages amid a spike in interest.

The meeting comes amid broad anxiety about the success of a Chinese artificial intelligence app called DeepSeek.

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.

Several experts, including Elon Musk and Howard Lutnick, nominated to head the US Commerce Department, recently suggested that DeepSeek had found ways to avoid US sanctions. Analysts suspect that Deep