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Tech Giants Get Reality Check as China AI Startup Upends Stocks
News January 27, 2025 at 11:24 AM
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What You Need To Know
- China's DeepSeek is challenging the investment case that rewarded the biggest players with rich valuations.
- Over the past 24 months, most of the Nasdaq 100 Index’s gains have come from a handful of AI names.
- The turnaround is particularly severe given Wall Street was welcoming AI investments as recently as Friday, when Meta Platforms Inc.’s stock hit a new high.
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