Tech stocks fall sharply as China’s DeepSeek sows doubts about AI spending
Some Chinese tech stocks advanced today amid the excitement over DeepSeek, although the wider CSI 300 index closed down 0.4 per cent. In Hong Kong Baidu closed 4 per cent up and Alibaba was up 3 per cent. “Tech is up today and the overall sentiment is quite positive in China”, said Wei Li, Head of multi-asset Investments for China at BNP Paribas.
DeepSeek AI Overtakes ChatGPT
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Tech stocks slide as Chinese AI startup DeepSeek triggers fears of China overtaking the U.S. in the AI race. Read more.
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