DeepSeek R1 Open-Sourced — Triggers Nvidia $600B Market Cap Crash

DeepSeek releases R1, a reasoning model comparable to OpenAI's o1, as open-source on MIT license — free for anyone to download, modify, and deploy. R1 achieves 87.5% on AIME 2025 math benchmarks, competitive with leading Western models. Nvidia stock crashes 17% on January 27 — a $600 billion single-day market cap loss — the largest single-day market cap drop in US stock market history, as investors reassess the need for expensive AI chips.