Nvidia responds to report claiming China's DeepSeek that wiped billions from US stock market in January 2025, is using 'banned' Nvidia chips

Nvidia has denied reports that Chinese AI startup DeepSeek is using smuggled Blackwell GPUs, calling the claims "far-fetched." The US has banned these advanced chips from export to China to maintain its AI lead. DeepSeek's previous AI model launch at a lower cost had already rattled US markets and sparked concerns about China's AI progress.