AI-Fueled Stock Rally Dealt $1 Trillion Blow by Chinese Upstart
finance.yahoo.com
(Bloomberg) -- For the better part of two years, artificial intelligence technologies have been a nonstop gift for US equities investors. The Nasdaq 100 Index rose 92% from the start of 2023, adding more than $14 trillion in value and minting billions for a handful of tech executives and founders.Most Read from BloombergTexas HOA Charged With Discrimination for Banning Section 8 RentersWhat Happened to Hanging Out on the Street?Budapest Mayor Aims to Block Orban’s Plans to Build ‘Mini Dubai’Vien

Chinese artificial intelligence startup DeepSeek’s latest AI model sparked a $1 trillion rout in US and European technology stocks, as investors questioned bloated valuations for some of America’s biggest companies.

  • Fizz@lemmy.nz
    51·
    3 days ago

    Exactly. Anyone who still thinks China is not on the cutting edge is not paying attention. Even with all the restrictions they’ve been pushing crazy technical advancements the last 5 years.