Wall Street was poised for a decline at the opening on Monday, triggered by the increasing popularity of an affordable Chinese artificial intelligence model called “DeepSeek.” This led to a selloff in shares of chipmaker Nvidia and other firms expected to gain from AI technology investments. The Chinese startup DeepSeek introduced a free AI assistant, claiming it operates on less costly chips and requires less data, thereby questioning the common market assumption that AI would boost demand across the supply chain from chip manufacturers to data centers. Reuters:
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Monday, January 27, 2025
Wall St set to open sharply lower on news of China’s ‘DeepSeek’ AI
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