Reported 3 days ago
DeepSeek, a Chinese AI startup, has recently topped the charts of the most downloaded free app on Apple, surpassing OpenAI's ChatGPT. Founded in 2023, DeepSeek claims that its AI model performs on par with leading U.S. AIs while being developed at a fraction of the cost. The surge in DeepSeek's popularity triggered a selloff in U.S. AI stocks, particularly affecting Nvidia and other chipmakers, as investors reassess market dynamics and competitive costs in AI development. Analysts are divided, with some urging caution over the selloff and recommending buying opportunities in established U.S. tech companies.
Source: YAHOO