‘Sputnik moment’: DeepSeek wipes $1 trillion from US stocks in a day

DeepSeek, a Chinese startup, has unveiled a revolutionary AI model that has considerably disrupted global markets and sent shockwaves through Wall Street. By leveraging cost-efficient technology, DeepSeek has posed significant questions about the sustainability of the US-led AI dominance and the effectiveness of export controls on advanced chips to China.

​DeepSeek, a Chinese startup, has unveiled a revolutionary AI model that has considerably disrupted global markets and sent shockwaves through Wall Street. By leveraging cost-efficient technology, DeepSeek has posed significant questions about the sustainability of the US-led AI dominance and the effectiveness of export controls on advanced chips to China.