DeepSeek is rivalling OpenAI's ChatGPT, Google's Gemini and Meta's Meta AI and has caused a nerve-racking hit to Wall Street.
DeepSeek — a Chinese artificial intelligence start-up rivalling OpenAI's ChatGPT, Google's Gemini and Meta's Meta AI — has caused a brutal $US593 billion hit to Wall Street.
Global stocks consequently tumbled and caused Wall Street to suffer its biggest one-day loss in history.DeepSeek — the Chinese company leaving tech giants worried. DeepSeek chief executive Liang Wenfeng founded the company in Hangzhou, China, in late 2023. After capturing global interest, DeepSeek's mobile app surged to the top of app charts above ChatGPT as the most downloaded free app.Marc Andreessen — one of the world's leading tech investors who advised US President Donald Trump on policy and warned that overregulation of AI in the US will enable China to get ahead — said "Deepseek R1 is AI's Sputnik moment".
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