China’s DeepSeek
China stunned the artificial intelligence (AI) world with the release of DeepSeek, a new AI tool that purportedly boasts the same capabilities as some of the world’s best AI engines. The clincher is that these capabilities were developed at a fraction of the cost incurred by large technology companies such as Microsoft (NASDAQ: MSFT), Alphabet (NASDAQ: GOOGL), and Meta Platforms (NASDAQ: META). DeepSeek was reportedly built for less than US$6 million, but analysts have expressed doubts over this figure as they wonder if it accounted for prior research, development, and other expenses. Nvidia (NASDAQ: NVDA), along with other technology firms, suffered a sharp plunge as part of a global sell-off as investors questioned the US’s leadership in the AI sector and whether these trillion-dollar companies could stay competitive. In particular, Nvidia, which manufactures graphics processing units (GPUs) that are used to train the AI...Welcome to this week’s edition of top stock market highlights.