DeepSeek topped the Apple AppStore chart and sparked fears the Chinese company is quickly catching up with OpenAI's ChatGPT while costing far less.

The Nasdaq could face market-cap losses of nearly $1 trillion if premarket declines hold into the close of trading.

By Nikhil Sharma (Reuters) -European shares slid on Monday as the technology sector joined the retreat in other markets after China's upgraded low-cost, low-power artificial intelligence (AI) model sparked worries about the profits of rivals and the need for costly chips.

AI cryptocurrencies endured a bloodbath on Monday, plunging by double-digits on their daily charts as Bitcoin dropped below $100,000. The market capitalization of all AI tokens crashed by 13.7% in the past 24 hours to $35.

LONDON (Reuters) -European and Asian shares slumped on Monday as investors weighed the implications of Chinese startup DeepSeek's launch of a free open-source artificial intelligence model to rival OpenAI's ChatGPT.