The Chinese AI app prompted some US tech firms' value to plunge
Hundreds of billions of dollars have been wiped off the value of US tech firms - after a Chinese AI app burst onto the scene.
The chatbot DeepSeek launched last week - and is already the most-downloaded free app in America, according to Apple.
Chipmaker Nvidia suffered a near £500 billion loss to its market value, following DeepSeek's claim that its R1 model was made at a fraction of the cost of its rivals.
Digital Isle of Man Board Member Jason Bissell - who's helping develop the Island's National AI Strategy - says this is an important moment for people on the Isle of Man too:
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