Market Panic Over DeepSeek's AI Breakthrough

In a dramatic turn of events, Broadcom Inc. witnessed its shares dive by 18.58% to $199.23, following the unveiling of DeepSeek's latest AI model, R1. This new model is not only on par with the likes of OpenAI's GPT-4, Meta Platforms' Llama, and Google's Gemini in terms of performance but also comes at a significantly lower cost, intensifying the competitive landscape in the tech sector.

DeepSeek's Rise to the Top

DeepSeek's artificial intelligence assistant has rapidly ascended to the top of Apple's App Store in both the United States and the United Kingdom, surpassing the popularity of ChatGPT, which now trails in the third spot. This achievement underscores the growing influence and acceptance of DeepSeek's technology among users.