Tentative rise comes after emergence of cheaper Chinese rival wiped $1tn off the value of leading US tech companies
What is DeepSeek and why did US tech stocks fall?Who is behind DeepSeek and how did it achieve its AI ‘Sputnik moment’?
US tech stocks tentatively recovered on Tuesday after Donald Trump described the launch of a chatbot by China’s DeepSeek as a “wake-up call” for Silicon Valley in the global race to dominate artificial intelligence.
The emergence of DeepSeek, which has built its R1 model chatbot at a fraction of the cost of competitors such as OpenAI’s ChatGPT and Google’s Gemini, wiped $1tn (£800bn) in value from the leading US tech index on Monday.
About Author
More Stories
Trump says China will face 55% tariffs as he endorses trade deal
‘They went too far’: Musk says he regrets some of his posts about Trump
Misogyny in the metaverse: is Mark Zuckerberg’s dream world a no-go area for women?