News from China upset U.S. markets Monday and disrupted the frenzy that had built up around artificial intelligence. A company called DeepSeek said it had developed a large language model that can compete with U.S. AI giants but at a fraction of the cost.
How China’s DeepSeek shook up US markets, by the numbers
News from China upset U.S. markets Monday and disrupted the frenzy that had built up around artificial intelligence.
A company called DeepSeek said it had developed a large language model that can compete with U.S. AI giants but at a fraction of the cost. DeepSeek had already hit the top of the chart for free apps on Apple's App Store by Monday morning, and analysts said such a feat would be particularly impressive given how the U.S. government has restricted Chinese access to top AI chips.
Nvidia, Broadcom and Google's parent company Alphabet were among the high-flying stocks that fell to earth, at least for now. The noise in the tech sector obscured some solid gains in other parts of the market.
Here’s a look at DeepSeek’s impact on the financial markets, by the numbers: