How DeepSeek Wiped $600 Billion Off NVIDIA’s Value?

The Biggest One-Day Loss in Wall Street History

Bhumika Jain
2 Min Read

DeepSeek AI, a Chinese startup, has quickly become India’s most downloaded app on the Apple iOS App Store. Within just a few days, the app surpassed major AI competitors like ChatGPT and Google Gemini.

Performance in India (Apple App Store):

January 25: Ranked 102

January 27: Climbed to No.1, surpassing ChatGPT

January 28: Maintained top position, well ahead of ChatGPT(5th) and Google Gemini(7th).

Performance on Android Play Store:

– Ranked 447th on January 16, climbed to 46th by January 26, and reached 5th position on January 28.

– ChatGPT was at 4th rank, while Google Gemini was at 16th.

In the overall Android rankings, DeepSeek was 83rd on January 28, closing in on ChatGPT (73rd).

Performance in Global Markets:
– Became the most downloaded AI app on Apple App Store in the U.S., surpassing ChatGPT and Google Gemini.

– Ranked No.2 on Google Play Store in the U.S., moving up from 133rd on January 24.

– Achieved No.1 rank in the UK, Australia, Singapore, and Canada on the Apple App Store on January 28.

– Has not yet made a similar impact in European countries.

The company behind DeepSeek AI was founded by a Chinese entrepreneur who previously ran a hedge fund and has a strong background in AI and machine learning. The app was launched worldwide on January 10, with an update released on January 27. DeepSeek’s rapid rise in popularity highlights the growing demand for affordable and effective AI tools. It also reflects the increasing competition in the AI assistant market, where new players are quickly gaining ground against well-established names like ChatGPT and Google Gemini.

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