U.S. Tech Stocks Pummeled As Cheaper Chinese AI Model Gains Traction
The Nasdaq dropped like a stone Monday as tech stocks, inflated for the past year by the promise of artificial intelligence, took a dive. The trigger was Chinese company DeepSeek, which last week rolled out a product similar to U.S. AI giants but using less powerful and much cheaper chips. DeepSeek claims that it spent […]
The Nasdaq dropped like a stone Monday as tech stocks, inflated for the past year by the promise of artificial intelligence, took a dive. The trigger was Chinese company DeepSeek, which last week rolled out a product similar to U.S. AI giants but using less powerful and much cheaper chips. DeepSeek claims that it spent […]
