Overnight, DeepSeek-R1 shot to the top of the Apple charts as the most downloaded free app in the US. The firm said at the time its new chatbot rivalled ChatGPT. Not only that. They asserted it had cost a mere fraction to develop.Those claims – and the app’s sudden surge in popularity – wiped $600bn (£446bn) or 17% off the market value of chip giant Nvidia, marking the largest one-day loss for a single stock in the history of the US stock market.
Source: It shocked the US market but has China’s DeepSeek changed AI?