A Chinese startup's promise of cheaper AI has rattled faith in the growth prospects for tech stocks.

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Wall Street's superstars are tumbling Monday as a competitor from China threatens to upend the artificial-intelligence frenzy that's helped them make so much money. Big Tech stocks took some of the heaviest losses, with Nvidia down 13%, and they dragged the Nasdaq composite down 2.7%. The Dow has much less of an emphasis on tech than the S&P 500 and Nasdaq.

Emerson Electric said it will buy all the remaining shares of Aspen Technology it doesn't already own for about $7.2 billion in an all-cash deal.

Startup DeepSeek has rolled out a free assistant it says uses lower-cost chips and less data, seemingly challenging a widespread bet in financial markets that AI will drive demand along a supply chain from chipmakers to data centres. Chip maker ASML down 8.9%, and Siemens Energy, which provides electric hardware for AI infrastructure, slid around 20%. - Japan's Nikkei shed nearly 1%, weighed on by heavyweight tech names.

Stocks started the week lower, pulled downward by investors' worries about the health of the AI trade. Under the hood of the S&P 500, though, there was still green to be seen.

The S&P 500 and the Nasdaq hit over one-week lows on Monday, as the surging popularity of a low-cost Chinese artificial intelligence model knocked shares of chipmaker Nvidia and other companies benefiting from investments into the technology. Chinese startup DeepSeek has rolled out a free assistant it says uses cheaper chips and less data, seemingly challenging a widespread bet in financial markets that AI will drive demand along a supply chain from chipmakers to data centers. Nvidia, whose chips are the top choice for powering AI applications, dropped 11.7%, while a gauge of semiconductor stocks dropped 6.5%.

The tech-heavy Nasdaq slipped 2.8% Monday morning as a perceived threat from Chinese artificial intelligence startup DeepSeek prompted a global sell-off of tech stocks.

LONDON/SINGAPORE (Reuters) -Investors hammered technology stocks on Monday, sending the likes of Nvidia and Oracle plummeting, as the emergence of a low-cost Chinese artificial intelligence model cast doubts on dominance of U.S. companies in this sector. Tech-heavy Nasdaq slid 3.1%, while the S&P 500 dropped 1.8%. Dominant AI chipmaker Nvidia slumped 11% in early trading, leading losses among heavyweight tech stocks that had powered Wall Street's main indexes to record levels.