A new Chinese app, powered by artificial intelligence, has disrupted the U.S. technology market, causing significant financial losses.
The app, called DeepSeek, simplifies text generation in a manner similar to ChatGPT. It has quickly gained popularity, with millions of downloads across the U.S., China, Europe, and other regions.
As a result, U.S. company Nvidia, known for its advanced processors widely used in AI technology, lost $500 billion in market value yesterday.
The emergence of this Chinese app has also driven down the shares of several other major tech companies in global markets.
DeepSeek claims that its app operates with minimal costs and requires less processing power compared to its Western competitors.
Former U.S. President Donald Trump has described China’s DeepSeek as a “wake-up call” for the American tech industry, warning of the risks it poses.
