DeepSeek topped the Apple AppStore chart and sparked fears the Chinese company is quickly catching up with OpenAI's ChatGPT while costing far less.

The Nasdaq could face market-cap losses of nearly $1 trillion if premarket declines hold into the close of trading.

Global chip stocks slumped Monday on DeepSeek revealing it had developed AI models that nearly matched American rivals despite using inferior chips.

Chinese artificial intelligence (AI) app DeepSeek has overtaken ChatGPT and other rivals to become the top-rated free application on Apple's App Store in the US, UK and China. The app has surged in popularity since its launch in January, challenging the widely-held belief that America is the untouchable leader of the AI industry.

Chinese startup DeepSeek's AI Assistant on Monday overtook rival ChatGPT to become the top-rated free application available on Apple's App Store in the United States. Powered by the DeepSeek-V3 model,

Chinese artificial intelligence (AI) start-up DeepSeek's chatbot app has dethroned OpenAI's ChatGPT to claim the top spot on the US iOS App Store, a development that could potentially change the AI landscape due to its open-sourced approach.

U.S. search engine startup Perplexity AI has revised the merger proposal it had submitted to TikTok's Chinese parent ByteDance to create a new entity combining Perplexity and TikTok U.S., a person familiar with the proposal told Reuters on Sunday.

If the plan is successful, the shares of TikTok owned by the government would not have voting power, the person said.