This photo illustration shows the DeepSeek app on a mobile phone in Beijing on Jan. 27. Chinese firm DeepSeek’s artificial intelligence chatbot has soared to the top of the Apple Store’s download charts. Greg Baker/AFP via Getty Images
Greg Baker/AFP via Getty Images
China may be about to burst Silicon Valley’s AI bubble — and Wall Street is freaking out.
U.S. tech stocks plunged on Monday, amid a wider market sell-off. The culprit: DeepSeek, a Chinese artificial intelligence company that last week introduced a new — and low-cost — model into the red-hot AI tech market.
DeepSeek on Monday morning