Shares of semiconductor makers were dropping early Monday as a Chinese AI model triggered questions over their lofty valuations.

Nvidia shares plunged Monday amid concerns that a powerful, cost-efficient AI model developed by Chinese startup DeepSeek could herald a reduction in Big Tech’s investment in the chipmaker’s pricey AI offerings.

Retail investors bought a net $562 million of Nvidia stock on Monday, the largest single-day inflow in at least 10 years, VandaTrack said.

Nvidia, the world leader in accelerated computing, lost about $589 billion of its market value on Monday. According to Bloomberg, the loss was driven by the company’s shares plummeting by 17 percent during midday trading on Wall Street. The steep decline reverberated across global markets due to Nvidia’s substantial influence on major indices.