Entrepreneur Marc Andreessen, known for co-writing Mosaic, one of the world’s first web browsers, wrote Sunday on X that “DeepSeek R1 is AI’s Sputnik moment,” likening it to the space race between the U.S. and the Soviet Union and the event that forced the U.S. to realize that its technological abilities were not unassailable.

This options-trading strategy monetizes the belief that tech is a 21st-century battlefield that the U.S. will continue to dominate.

Chinese startup DeepSeek’s app has climbed to the top of the iPhone charts as its newest AI assistant showed competitive performance against rivals like OpenAI and Meta.

The tech-heavy Nasdaq composite closed down nearly 3% on Monday, with shares of AI-focused chipmaker Nvidia plunging 17% and shaving nearly $590 billion from the company’s market cap.

Nvidia shares closed down almost 17%, posting its biggest drop since March 2020 and erasing nearly $600 billion from the company's market cap. Broadcom fell 17.4%, and other chip stocks like Micron declined 11.

By Aditya Soni, Zaheer Kachwala (Reuters) -Chinese startup DeepSeek's cheaper AI is sharpening investor scrutiny of the billions U.S. tech giants are pouring to develop the technology and analysts say it will dominate this week's much-awaited results from industry bellwethers.

President Donald Trump said DeepSeek’s AI advances should be a “wake-up call” for the U.S.