🚀 DeepSeek unleashes chaos in tech markets

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Chinese AI startup DeepSeek has shaken global tech markets with the release of an open-source large language model developed in just two months for under $6 million, significantly undercutting the costs of U.S. counterparts like OpenAI. Nvidia shares plummeted 13%, leading a broad sell-off in AI-related stocks, while experts speculated whether DeepSeek's rapid progress could threaten America's AI dominance. Despite skepticism over DeepSeek's claimed costs and acknowledgment of U.S. companies' GPU advantages, analysts agree the development raises questions about the efficiency and sustainability of AI investments by Western tech giants.

2. Perplexity AI has revised its merger proposal to ByteDance for TikTok U.S., introducing a structure that could allow the U.S. government to own up to 50% of the combined entity after a future IPO. The plan involves creating a U.S.-based holding company, "NewCo," with ByteDance contributing TikTok U.S. (excluding its recommendation algorithm) and Perplexity offering itself in exchange for equity stakes distributed among their respective investors. With funding from third-party capital providers, the deal aims to simplify ByteDance's governance and support NewCo's growth. While ByteDance has resisted selling TikTok U.S., Perplexity believes its merger-based approach might succeed, as talks of potential bidders, including Microsoft and Oracle, intensify amidst ongoing U.S. government scrutiny.

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4. With Apple, Microsoft, and Tesla set to report earnings this week, investors are closely watching how President Trump’s proposed tariffs—potentially up to 60% on Chinese imports and 10% on goods from Mexico and Canada—could affect supply chains and consumer pricing. While tariffs aim to address trade imbalances, experts warn they could slow global commerce, raise prices, and disrupt nearshoring efforts, particularly in Mexico, which has become a growing hub for electronics manufacturing. Key sectors like smartphones, laptops, and gaming consoles could see significant price hikes, with broader implications for U.S. tech giants already grappling with existing tariffs and ongoing supply chain unpredictability.

5. Headlines

   1. Bitcoin was down on Monday as investors dumped higher-risk assets following the tech selloff.

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