DeepSeek Panic: Here’s Why Tech Stocks Are Getting Crushed As Nasdaq Paces To Worst Day Of 2025
The selloff stems from weekend panic over last week’s release from the relatively unknown Chinese firm DeepSeek of its competitive generative AI model rivaling OpenAI, the American firm backed by Microsoft and Nvidia, and its viral chatbot ChatGPT, with DeepSeek notably running at a fraction of the cost of U.S.-based rivals.