A Chinese start-up’s new artificial intelligence program took the top spot in Apple’s app store, threatening U.S. dominance in the field and huge investments from companies in the new technology. Stock futures were falling sharply Monday.
DeepSeek introduced a new free assistant on Jan. 20 that competes with Microsoft-backed OpenAI’s ChatGPT and others. It has quickly soared in popularity. Not only is it cheaper to use than rivals, it also uses less expensive chips and less data.
The program’s quick success challenges long-held assumptions that AI demands huge investments for firms to take advantage of it, and the idea that U.S. companies will lead the way in development. That’s a huge blow to technology stocks that have been riding the wave of AI optimism for the past few years.
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