An AI assistant created by Chinese startup DeepSeek became the number one most-downloaded app in Apple’s US App Store over the weekend, sending shock waves through Silicon Valley and causing the price of major tech stocks to plummet. Nvidia saw more than $460 billion erased from its market capitalization on Monday, a drop Bloomberg characterized as the “biggest in US stock market history.”
The shake-up stems from an open source model developed by DeepSeek called R1, which debuted earlier this month. The company said that it rivals the current industry leader: OpenAI’s 01. But what stunned the tech industry most was that DeepSeek claimed
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