Here’s what you need to know about DeepSeek, the Chinese AI startup that rattled markets as its app dethroned OpenAI's as the most-downloaded free app in the U.S. on Apple.
The S&P 500 and Nasdaq plunged at midday when Chinese artificial intelligence startup DeepSeek shook up the sector with a lower-cost large language model.
Akero Therapeutics shares traded near their all-time high as the drugmaker reported positive results in a study of its treatment for liver disease.
This story incorporates reporting fromFinbold | Finance in Bold and MSN.Following a dip in Nvidia’s stock value due to concerns over AI capital expenditure and an AI advancement in China, top analysts have re-evaluated their positions. This reaction aligns with the release of DeepSeek’s AI assistant app and its new large language models, DeepSeek-R1 and DeepSeek R1 Zero, earlier in the month. These advancements have sparked industry discussions about their potential impact on the AI landscape.
A Chinese startup's promise of cheaper AI has rattled faith in the growth prospects for tech stocks.
(Bloomberg) -- Two small technology stocks are surging Monday, bucking the broader market’s selloff, after announcing plans to use DeepSeek’s large language model in their businesses. Most Read from BloombergWhat Happened to Hanging Out on the Street?Vienna Embraces Heat Pumps to Ditch Russian GasTexas HOA Charged With Discrimination for Banning Section 8 RentersBudapest Mayor Aims to Block Orban’s Plans to Build ‘Mini Dubai’Billionaire Developer Caruso Slams LA Leadership Over WildfiresAurora M
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Wall Street's superstars are tumbling Monday as a competitor from China threatens to upend the artificial-intelligence frenzy that's helped them make so much money. Big Tech stocks took some of the heaviest losses, with Nvidia down 13%, and they dragged the Nasdaq composite down 2.7%. The Dow has much less of an emphasis on tech than the S&P 500 and Nasdaq.
Emerson Electric said it will buy all the remaining shares of Aspen Technology it doesn't already own for about $7.2 billion in an all-cash deal.
Startup DeepSeek has rolled out a free assistant it says uses lower-cost chips and less data, seemingly challenging a widespread bet in financial markets that AI will drive demand along a supply chain from chipmakers to data centres. Chip maker ASML down 8.9%, and Siemens Energy, which provides electric hardware for AI infrastructure, slid around 20%. - Japan's Nikkei shed nearly 1%, weighed on by heavyweight tech names.