Hedge fund manager Bridgewater Associates said Chinese startup DeepSeek’s launch of its latest artificial intelligence (AI) models could lead to a short-term correction in many tech companies’ share prices but is positive for the industry. The comments come amid a tech stocks sell-off prompted by the release of a free AI assistant launched by DeepSeek last week that the startup said uses less data at a fraction of the cost of services currently available. DeepSeek’s AI Assistant has overtaken rival ChatGPT to become the top-rated free application available on Apple’s App Store in the United States, raising doubts about the reasoning behind some U.S. tech companies’ decision to pledge billions of dollars in AI investment.Read More
Bridgewater sees short-term correction for tech stocks but bullish on DeepSeek impact
