Reported 2 days ago
A recent introduction of a powerful and cost-effective AI tool by Chinese startup DeepSeek has triggered significant declines in US tech stocks and other sectors tied to the AI boom. Panic selling followed as investors questioned the need for large investments in AI infrastructure, leading to a loss of $1 trillion in market value. Stocks in utilities, energy, and real estate, which had previously benefitted from the AI surge, were also severely impacted, with nuclear energy companies experiencing dramatic plunge, undermining expectations of a nuclear revival for 2025.
Source: YAHOO