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China's DeepSeek tops iPhone downloads and spurs AI Selloff
Hindustan Times East UP
|January 28, 2025
Chinese startup DeepSeek's eponymous AI assistant rocketed to the top of Apple Inc.'s iPhone download charts, stirring doubts in Silicon Valley about the strength of America's lead in AI.
NEW DELHI:
The app's underlying artificial intelligence model is widely seen as competitive with OpenAI and Meta Platforms Inc.'s latest. Its claim that it cost much less to train and develop triggered share moves across Asia's supply chain.
Chinese tech firms linked to DeepSeek, such as Iflytek Co., surged on Monday, while chip-making tool makers from Netherlands' ASML Holding NV to Japan's Advantest Corp. slumped on the potential threat to demand for Nvidia Corp.'s AI accelerators. US stock index futures also tumbled amid concerns that DeepSeek's AI models may disrupt US technological leadership.
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