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

[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 on 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 biggest 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.

Tiger Brokers (Singapore) said that between Jan 27 and Nvidia’s earnings release on Feb 26, total transaction value and volume for Nvidia soared 99 and 100 per cent, respectively, from the preceding one-month period.

Compared with the corresponding period a year earlier, the respective increases were up 67 per cent and 225 per cent.