Broadcom (AVGO) Hit by 15% Drop on Growing Threat from Chinese AI Startup DeepSeek

The Broadcom (AVGO, Financial) shares fell steeply by 16% in trading on Monday as it joined the wider market sell-off, and investors fretted over DeepSeek’s emerging threat to them. What’s happened is AI tech giants like Unilever, Procter and Gamble, Danone, and more have made billions of dollars of investments in their AI visions, but Deep seek’s new free-to-use AI model has taken off so fast that it’s beginning to create serious doubts about the long term prospects of these…