DeepSeek’s ChatGPT competitor quickly soared to the top of the App Store, and the company is disrupting financial markets, with shares of Nvidia dipping 17 percent to cut nearly $600 billion from its market cap on January 27th, which CNBC said is the biggest single-day drop in US history.

Chinese tech startup DeepSeek released a model of its AI service that seemingly is on-par with U.S.-based competitors like ChatGPT, but required far-less computing power.

Here’s what you need to know about DeepSeek, the Chinese AI startup that rattled markets as its app dethroned OpenAI's as the most-downloaded free app in the U.S. on Apple.

Broadcom’s business relies heavily on their networking products, which are crucial for data transfer in AI systems. If the market for premium AI chips experiences a downturn, amid the rise of DeepSeek, it could create a domino effect, potentially hurting sales of Broadcom’s supporting technologies and components.

It’s impossible to look at the Chinese artificial intelligence startup DeepSeek’s new AI model without comparing it against OpenAI, the dominant American rival.DeepSeek has touted its latest AI model,

Key Takeaways The stocks of software companies such as Salesforce have soared this week on hopes that Chinese start-up DeepSeek's cost-efficient AI model could make AI applications significantly less expensive to develop and run.