Progress by startup DeepSeek raises doubts about sustainability of western artificial intelligence boom
Tech shares in Asia and Europe have taken a hit as the emergence of a Chinese chatbot competitor to OpenAI’s ChatGPT, DeepSeek, raised doubts about the sustainability of the US artificial intelligence boom.
Shares in companies listed in Asia and Europe fell on Monday morning and the tech-heavy Nasdaq index in New York was poised to open lower after investors digested the implications of AI models developed by startup DeepSeek. The DeepSeek AI assistant topped the Apple app store in the US and UK over the weekend, above OpenAI’s ChatGPT.
