Chinese AI Startup #DeepSeek Tops Apple App Store as No. 1 Free App

DeepSeek, a Chinese AI startup, has claimed the top spot as the No. 1 free app on the Apple App Store. With a development cost of $10M, it stands in stark contrast to #ChatGPT, which has raised $17B across 10 funding rounds and boasts a valuation exceeding $150B.

Despite the excitement, the market sentiment around the AI sector is cooling, with many investors viewing the industry as overvalued. This has led to a selloff in AI-related stocks since the markets opened.

As #Crypto remains closely tied to stock market trends, the crypto market is experiencing an even sharper downturn in response.