The Chinese AI app DeepSeek has achieved tremendous success by becoming the most downloaded app in Apple's App Store. Its launch has caused significant turmoil in the stock market, leading to a sell-off of U.S. tech stocks as investors express concerns that advances by Chinese companies in AI could threaten the profitability of American tech giants. DeepSeek's developers assert that their technology achieves performance comparable to that of existing AI models but at a fraction of the cost and resource consumption, prompting reevaluation of the future landscape of AI.
Newly launched Chinese AI app DeepSeek has surged to number one in Apple's App Store and has triggered a sell-off of U.S. tech stocks over concerns.
The stock market experienced turmoil after DeepSeek claimed to produce a powerful AI model more cheaply and efficiently than leading American counterparts.
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