(BBC News) US President Donald Trump warns Chinese startup DeepSeek is a wake-up call for America’s technology industry.
- The emergence of DeepSeek’s low-cost AI chatbot caused shockwaves on Wall Street, with Nvidia losing more than $500 billion in market value.
- Shares in other major technology firms fell steeply in value when markets opened on Monday. That day, DeepSeek said it was hit by a “large-scale malicious attack”.
- Tech-focused shares in Japan fell on Tuesday, while stock markets in China, South Korea and Taiwan are closed for the Lunar New Year holiday.
- The DeepSeek app, which was launched last week, has overtaken rivals including ChatGPT to become the most downloaded free app in the US.
- DeepSeek was reportedly developed for a fraction of the cost of its rivals, raising questions about the future of America’s AI dominance and the scale of investments US firms are planning.
