FT News Briefing
China’s DeepSeek AI triggers tech sell-off
Jan 28, 2025
Recent advancements from China’s DeepSeek are causing significant concern in the U.S. tech sector, leading to a sharp sell-off of stocks like NVIDIA. The emergence of this competitive AI player raises questions about America’s future in artificial intelligence. Meanwhile, Latin American leaders prepare for an urgent summit in light of tough immigration policies. On the retail front, Starbucks is tightening its access policies amid ongoing sales struggles, aiming to improve customer experiences while adjusting to changing consumer habits.
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Quick takeaways
- The significant decline in US tech stocks highlights concerns over maintaining AI leadership in light of DeepSeek's advancements.
- Starbucks is implementing new policies to rejuvenate in-store traffic and improve sales amidst declining customer engagement and financial performance.
Deep dives
Tech Market Response to AI Developments
US tech stocks experienced significant declines following the announcement of a groundbreaking AI model by the Chinese startup DeepSeek, which has achieved competitive results with fewer NVIDIA chips. Notably, NVIDIA's shares plummeted nearly 17%, contributing to a loss of about $600 billion in market value for the company, as the heavy Nasdaq composite fell 3%. The introduction of DeepSeek's models has raised questions about the United States' ability to maintain its leadership in the AI sector, particularly as the company has made notable advancements in the technology. This situation highlights potential shifts in the global AI landscape, with implications for the future of tech investments and innovation in the U.S.
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