Chinese AI start-up DeepSeek causes market plunge with tech stocks plummeting.

From Barron’s.: 2025-01-27 09:33:15

A Chinese AI start-up caused a market plunge, with the Nasdaq down 3.6%, S&P 500 down 2.1%, and Dow Jones down 0.5%. DeepSeek, a new AI program, topped Apple’s App Store charts, offering a free assistant that competes with industry giants like OpenAI with cheaper chips and less data usage.

Read more: Stocks Open Sharply Lower. DeepSeek Sends Tech Stocks Plummeting.