Nasdaq futures tumble as China’s AI push rattles Big Tech

Chinese 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 centers. “It is far too early to describe DeepSeek as an existential threat to U.S.-based AI solutions,” Richard Hunter, head of markets at interactive investor, said. DeepSeek’s AI Assistant on Monday overtook rival ChatGPT to become the top-rated free application available on Apple’s App Store in the United States.   [#item_con

Chinese 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 centers. “It is far too early to describe DeepSeek as an existential threat to U.S.-based AI solutions,” Richard Hunter, head of markets at interactive investor, said. DeepSeek’s AI Assistant on Monday overtook rival ChatGPT to become the top-rated free application available on Apple’s App Store in the United States.

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