Nvidia trading on Tiger, Moomoo, FSMOne explodes after DeepSeek beating opens buying opportunity

[SINGAPORE] When China artificial intelligence (AI) player DeepSeek burst onto the global scene in January, it rocked the AI world and wiped hundreds of billions off Nvidia’s market value.

But Singapore investors were quick to jump in and buy the dip, leading to huge surges in activity on trading platforms such as Tiger Brokers, Moomoo and FSMOne.

DeepSeek hogged the headlines when it surged to the top of Apple Store’s download charts in late January. It was touted as an alternative to and able to perform on a par or even outperform OpenAI and Meta’s models. But the bigger shock to the AI market – hitherto dominated by Open AI’s ChatGPT – was that DeepSeek cost a fraction to build, and consumes less power. This led to a sell-off in Nvidia, whose top-end chips drive ChatGPT.