NEW YORK (AP) — Wall Street is tumbling on fears the big U.S. companies that have feasted on the artificial-intelligence frenzy are under threat from a competitor in China. The S&P 500 fell 1.8% in early trading Monday.

Pelosi's stock trading is once again under scrutiny after a recent sale of NVIDIA weeks ahead of a significant drop.

Wall Street is tumbling on fears the big U.S. companies that have feasted on the artificial-intelligence frenzy are under threat from a competitor in China.

David Shaw's D.E. Shaw bought 5.9 million shares of Nvidia, increasing its position by 53%. Nvidia is now the largest holding. Meanwhile, D.E. Shaw sold 8.7 million shares of Palantir, reducing its stake by 45%.

Wall Street’s superstars are tumbling as a competitor from China threatens to upend the artificial-intelligence frenzy they’ve been feasting on.

Wall Street's tech giants dragged US frontline indices on Monday after China's AI startup DeepSeek rattled Silicon Valley and hit the top of Apple’s App Store chart

But one Wall Street analyst thinks investors should take advantage of that lull. Oppenheimer 's Rick Schafer just made the company one of his top picks for 2025 in the semiconductor sector. His firm's price target of $175 per share would represent a 27% gain from recent levels.

DeepSeek’s claims that it cost mere millions to build fanned fears that the huge investments into AI by U.S. firms are unwarranted and a bubble waiting to pop.

Wall Street's tech giants dragged US frontline indices on Monday after China's AI startup DeepSeek rattled Silicon Valley and hit the top of Apple’s App Store chart

Stiffer competition for the tech giants at the forefront of the artificial intelligence boom prompted investors to reassess the companies’ sky-high valuations.