DeepSeek is making Wall Street nervous about the AI spending boom: Here’s what we know

The AI frenzy that has reshaped the tech world and commanded the attention of Wall Street took an anxious turn Monday after a Chinese upstart burst onto the scene, dazzling early users and sparking fears that US AI leadership is now under threat.

It wasn’t just the Chinese model’s performance that rattled American investors and executives. The team behind DeepSeek, the AI model maker, claims that the technology uses cheaper chips and less data than the popular American AI assistants…