Get the latest tech news
DeepSeek triggered a wild, baseless rally for some Chinese stocks
Hype around DeepSeek sent the stock price of several Chinese companies soaring, but proof of their ties to DeepSeek is non-existent.
Chinese AI company DeepSeek made global headlines for helping spark a massive sell-off in U.S. tech stocks on Monday, with Nvidia dropping almost 20%. Investment company Zhejiang Orient hasn’t responded to a request for comment from TechCrunch, but there’s no public evidence that they’re an investor in DeepSeek, either. In a 2023 interview with the same outlet, Wenfeng said he had discussions with different funding sources, but VCs “seemed hesitant” about investing in a research-focused company, prioritizing commercialization instead.
Or read this on TechCrunch
