Chinese tech company DeepSeek’s new artificial-intelligence model has put the U.S. stock market into panic mode. Futures tracking the tech-heavy Nasdaq 100 index were plunging Monday as Silicon Valley heaped praise on R1,

Tech stocks slide as Chinese AI startup DeepSeek triggers fears of China overtaking the U.S. in the AI race. Read more.

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Technology shares around the world slid on Monday as a surge in popularity of a Chinese discount artificial intelligence model shook investors' faith in the AI sector's voracious demand for high-tech chips.

Venture capitalist Marc Andreessen, a close advisor to Trump, described it as “AI’s Sputnik moment” - a reference to the Soviet satellite launch that sparked the Cold War space race. Scale AI’s Wang wrote on X that DeepSeek “is a wake up call for America”.

Global chip stocks slumped Monday on DeepSeek revealing it had developed AI models that nearly matched American rivals despite using inferior chips.

European shares slid on Monday as the technology sector joined the retreat in other markets after China's upgraded low-cost, low-power artificial intelligence (AI) model sparked worries about the profits of rivals and the need for costly chips.

DeepSeek topped the Apple AppStore chart and sparked fears the Chinese company is quickly catching up with OpenAI's ChatGPT while costing far less.

By Samuel Indyk and Kevin Buckland LONDON (Reuters) -European and Asian shares slumped on Monday as investors weighed the implications of Chinese startup DeepSeek's launch of a free open-source artificial intelligence model to rival OpenAI's ChatGPT.

US stock index futures tumbled in early Asian trading hours Monday amid concerns that an artificial intelligence model from China’s DeepSeek may disrupt the tech market. S&P 500 futures fell as much as 1 per cent as of 10:12 am in Hong Kong,