India, Jan. 27 -- The Swiss franc was higher against its most major counterparts on Monday amid risk aversion, as emergence of Chinese startup DeepSeek indicated shift in perceptions about U.S. dominance in artificial intelligence.
The sell-off on Wall Street comes amid substantial weakness among technology stocks, with AI darling and sector leader Nvidia plummeting by 14.4 percent.
The plunge by Nvidia comes after Chinese startup DeepSeek's AI Assistant overtook rival ChatGPT to become the top-rated free application available on Apple's App Store in the United States.
DeepSeek's ascendance has doubt on Silicon Valley's hefty AI capex spending and the sustainability of the U.S. technical edge in artificial intelligence.
Concerns about t...