What is DeepSeek and why did US tech stocks fall?

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The story "What is DeepSeek and why did US tech stocks fall?" was covered 3 days ago by The Guardian, a news publisher based in United Kingdom.

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The Guardian 3d ago

What is DeepSeek and why did US tech stocks fall? - The Guardian

Quick Summary:

Why doubts have been raised about sustainability of US artificial intelligence boomGlobal tech shares fall as China AI chatbot DeepSeek spooks investorsDeepSeek hit with large-scale’ cyber-attackInvestors have been fleeing US artificial intelligence stocks amid surprise at a new, cheaper but still effective alternative Chinese technology.Continue reading...

It has been praised by researchers for its ability to tackle complex reasoning tasks, particularly in mathematics and coding and it appears to be producing results comparable with rivals for a fraction of the computing power.

Hundreds of billions of dollars were wiped off big technology stocks after the news of the DeepSeek chatbot’s performance spread widely over the weekend.