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Wall Street tech stocks head for $1tn sell-off as DeepSeek rattles investors


A small Chinese artificial intelligence lab stunned the world last week by revealing the technological recipe for its cutting-edge model, turning its reclusive leader into a national hero who has defied US efforts to curb China’s high-tech ambitions.

Dipsic, founded by hedge fund manager Liang Wenfeng, released its R1 model last Monday, explaining in a detailed paper how to build a large language model on a bootstrapped budget that can learn automatically and improve itself without human supervision.

The company’s R1 release sparked a frenzied debate in Silicon Valley over whether better-resourced US AI companies, including Meta and Anthropic, could maintain their technological edge.

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