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It started in the wee hours of Monday morning. News of a new AI platform from a Chinese company called DeepSeek started making the rounds.
The company released its current model, which works just as well as ChatGPT or Claude AI. The difference is that DeepSeek’s R1 model is free and open-source and took a fraction of the resources used for ChatGPT to develop.
But you might be asking: Why would a Chinese AI platform have such an impact on U.S. markets? Why are we seeing a huge tech sell-off?
This post appeared first on Money & Markets, LLC.