DeepSeek causing a major US stock to fall, such as “Apple, Microsoft, Nvidia, Alphabet, Meta Platforms” after it’s release “DeepSeek-R1” on January 2025.

“DeepSeek” cause US major stocks to fall
New rivals for ChatGPT causing panicked in US stock market as “DeepSeek” become the number one downloaded free app on Apple’s App store after its release in January 2025. DeepSeek wiped out $1 trillion off the US stock market overnight, Nvidia also suffered a historic loss with $589 billion.
What is DeepSeek?
DeepSeek in a Chinese start-up founded in 2023 in Hangzhou, China that develops open-source AI models. DeepSeek is owned and solely funded by Chinese hedge fund High-Flyer, whose co-founder, Liang Wenfeng, established the company in 2023 and serves as its CEO.
The company introduced its first AI model in November 2023, followed by DeepSeek-V2 in May 2024 and DeepSeek-V3 in December 2024.
DeepSeek topped the Apple Store’s most popular free apps on January 20, 2025 with the release of “DeepSeek-R1”.