"In our view this is a correction and not the start of a sustained bear market," Goldman Sachs said. DeepSeek sparked a $1 trillion market rout on Monday.

The rest of the stock market could finally catch up to the Magnificent Seven this year—and it has nothing to do with DeepSeek. The gap in earnings growth between the Magnificent Seven and the rest of the benchmark index should compress from roughly 8 percent to less than 5 percent by the end of 2025,

Some AI researchers hailed DeepSeek’s R1 as a breakthrough on the same level as DeepMind’s AlphaZero, a 2017 model that became superhuman at the board games Chess and Go by purely playing against itself and improving, rather than observing any human games.

The startup DeepSeek was founded in 2023 in Hangzhou, China and released its first AI large language model later that year. Its CEO Liang Wenfeng previously co-founded one of China’s top hedge funds, High-Flyer, which focuses on AI-driven quantitative trading.

Chinese tech startup DeepSeek has come roaring into public view shortly after it released a model of its artificial intelligence service that seemingly is on par with U.S.-based competitors like ChatGPT,

Rebounding tech stocks drove U.S. indexes higher Tuesday, a day after they tumbled on doubts about whether the artificial-intelligence frenzy really needs all the dollars being poured