2 months, 2 weeks ago

What is DeepSeek and why did US tech stocks drop?

Chinese Artificial Intelligence company DeepSeek has become one fo the most downloaded free apps on the Apple App Store following its release this month in the United States. Reports suggest that it took only $6 million to build the app, much less than the money spent by other AI companies in the US. After the news of DeepSeek’s performance spread widely, hundreds of billions of dollars were wiped off big tech stocks. On Monday, Nvidia nearly lost $600 billion in market value, the largest one-day drop for any company in US history.

Deccan Chronicle

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