Investors rushed to capitalise on the DeepSeek chaos in January, as North American equity funds enjoyed their largest one-day inflows immediately after billions were wiped off the US market.
US tech companies took a hit on 27 January after Chinese startup DeepSeek launched an artificial intelligence tool in competition against Western-backed models at a fraction of the research and development cost. MPs to scrutinise use of AI in financial services following DeepSeek launch The emergence of an unexpected Chinese rival in the widely popular AI space sent markets into a spiral, with the US taking some of the biggest hits on the day. The tech-heavy Nasdaq Composite ended the day 3% lower than the previous Friday while Nvidia, the market's AI darling, at 19,341 experienced...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
