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Global News Podcast

Nvidia shares sink as Chinese AI app spooks markets

Global News Podcast

BBC

News, Daily News

4.38.3K Ratings

🗓️ 28 January 2025

⏱️ 28 minutes

🧾️ Download transcript

Summary

The US chipmaker Nvidia has suffered the biggest single-day loss in US market history, as investors respond to the development of a low-cost AI chatbot by a Chinese company. Also: the diplomacy of renaming a submarine.

Transcript

Click on a timestamp to play from that location

0:00.0

This is the Global News podcast from the BBC World Service.

0:05.7

I'm Jeanette Jaliel and in the early hours of Tuesday the 28th of January, these are our main stories.

0:12.4

US tech shares have fallen sharply on Wall Street in response to Chinese advances in AI,

0:17.7

threatening the dominance of big American firms.

0:21.0

The United Nations says there's no doubt Rwandan troops are supporting M23 rebels

0:26.6

who are seizing the Congolese city of Goma.

0:30.2

Holocaust survivors have marked the 80th anniversary of the liberation of the Nazi death

0:35.7

camp at Auschwitz.

0:39.1

Also in this podcast, HMS Agincourt, would instead be known as HMS Achilles.

0:46.0

We'll tell you why the changing of the name of a British submarine has caused an outcry.

0:55.5

We begin in the world of big tech and artificial intelligence

0:59.6

where the emergence of what's said to be a low-cost AI Chinese chatbot has caused shockwaves.

1:07.0

Shares in Western tech giants fell sharply in value on Monday with the AI chipmaker,

1:12.8

Nvidia, one of the hardest hit.

1:15.3

Half a trillion dollars was wiped off its value after a Chinese startup, DeepSeek, stunned its American competitors

1:23.7

with the success of its AI app, reportedly made at a fraction of the cost of rivals like ChatGPT.

1:31.8

Despite only being launched this month, it's become the top-rated free application on Apple's App Store in the United States.

1:39.5

This is despite the US restricting the sale to China of the advanced chip technology that powers AI.

1:46.7

Stephanie here is a technology author and explains why this matters to all of us.

1:52.0

Right now, we've got really a competition between the two global superpowers, the United States and China,

1:57.7

from what is being arguably pitched as the battle for the technology of the

2:02.8

21st century. So it will matter for companies. It will matter for productivity. It will matter for

...

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