· 3d · on MSN
Bitcoin tumbles amid broader market jitters over Chinese AI app DeepSeek
DeepSeek Shakes Market: Bitcoin, Altcoins, and AI Coins Plunge Amid AI Startup Surge
What is DeepSeek, the Chinese AI app challenging OpenAI and Silicon Valley?
DeepSeek is a new artificial intelligence chatbot that’s sending shock waves through Wall Street, Silicon Valley and Washington. The app, name after the Chinese start-up that built it, rocketed to the top of Apple’s App Store in the United States over the weekend.
As attention on Chinese startup DeepSeek and its artificial-intelligence model led to a $1 trillion wipeout in the U.S. stock market on Monday, shares of bitcoin miners with exposure to artificial intelligence also tumbled.
Much of the concern draws from a possible overvaluation in U.S. tech companies as DeepSeek’s latest AI model is significantly cheaper to produce and was built using open-source technology that is easy to access.
Bittensor (TAO) price peaked $484 at for Wednesday, defying crypto market volatility with a 37% increase over the last seven days. On-chain data suggests discussions around China’s Deepseek and OpenAI may have driven TAO’s strong performance.
OpenAI may be close to releasing an AI tool that can take control of your PC and perform actions on your behalf, if leaks are to be believed.
Bitcoin added 4% in the past 24 hours to trade around $103,000 in European morning hours, alleviating some of Monday’s losses.
President Donald Trump on Tuesday announced that three leading companies would make a large investment in artificial intelligence infrastructure.
OpenAI says Chinese startups, such as DeepSeek, are "constantly" cribbing the tech of leading AI companies in the US to develop their own models. OpenAI's IP theft concerns come as the company deals with a raft of lawsuits accusing it of violating copyright protections.
OpenAI and Japanese conglomerate SoftBank will each commit $19 billion to fund Stargate, a joint venture to develop data centers for artificial intelligence in the U.S., the Information reported on Wednesday.
Nasdaq tumbles as Nvidia leads tech selloff. DeepSeek’s low-cost AI shakes US dominance, impacting Bitcoin, cryptos, and chip stocks. Click for analysis.
Meta and Tesla shares rally. Follow along for live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.
US stocks rose on Thursday, with the Nasdaq (^IXIC) and S&P 500 (^GSPC) eyeing a comeback as investors digested news that the US economy expanded slower than economists had expected in the last three months of the year.
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