Chinese AI company DeepSeek made global headlines for helping spark a massive sell-off in U.S. tech stocks on Monday, with Nvidia dropping almost 20%.
In China, the hype around DeepSeek has sent shares of some public companies with supposed ties to it soaring. The problem: There’s no evidence these companies ever invested in or cooperated with DeepSeek to begin with.
Rumored DeepSeek investors Huajin Capital and Zhejiang Orient popped by 10% on Monday, while a research company called Sublime China Information jumped 20% for supposedly cooperating with DeepSeek on its AI models.
Dispatches From The Front 