Market discussions about the recent rise of Chinese artificial intelligence (AI) dark horse DeepSeek have taken on a new dimension, with some analysts suggesting that China’s rapid technological advances could boost the internationalisation of its yuan currency and weaken the global influence of the US dollar.
Ninety One, a London-based asset management firm, said DeepSeek’s rise could erode one of the key pillars supporting the US dollar’s dominance – the tech-heavy US stock market.