As a new AI app surges to the top of App Store downloads, US tech stocks start plunging.
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00:00As a new AI app surges to the top of app store downloads, U.S. tech stocks are plunging.
00:06China-based AI company DeepSeek is now the most downloaded app in the U.S.
00:12And as investors panic, that big bets on AI here in the U.S. may be a bust.
00:17NVIDIA is shedding more than $400 billion in market cap.
00:21Microsoft, Meta, Google, all down.
00:24DeepSeek is a far cheaper AI model than those introduced in the U.S.
00:35and is, according to many, as good, if not better, a user experience.
00:40Mark Andreessen, a Trump supporter and one of the world's leading tech investors,
00:44called DeepSeek,
00:45one of the most amazing and impressive breakthroughs I've ever seen in a post on X.