DeepSeek AI impact hits Europe, sends ASML stock tumbling

Stunning AI advances from Chinese startup DeepSeek have sent tech stocks tumbling across the US and Europe. DeepSeek released a free chatbot and new open-source AI models last week. Within days, the chatbot had overtaken ChatGPT to reach the top spot on the Apple App Store’s free app rankings. The new R1 models sent further shockwaves through the AI world. R1 promised performance to rival OpenAI top’s reasoning model — at just a fraction of the cost. Marc Andreessen, one of the world’s most powerful VCs, called the release “AI’s Sputnik moment.” The markets were also astounded. Shaken by the…

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