DeepSeek AI Sparks Wall Street Concerns and NASDAQ Plunge (Full Transcript)

Speaker 1: We have this breaking news right now. Wall Street's Week is off to a bumpy start. The NASDAQ ended the day deep in the red, losing hundreds of points. And it's because of investor concerns about a new Chinese artificial intelligence app. WBZ's Courtney Cole joins us live in studio. Courtney, tell us about DeepSeek.

Speaker 2: So Lisa, DeepSeek is a new artificial intelligence tool. And its creator says it uses less data and also costs a whole lot less to develop than chat GPT. And that is sending investors into a panic. Since tech companies have already put so much money into AI. Officials at DeepSeek say they spent under $6 million to train the new model. But other tech companies have forked out hundreds of millions and sometimes even billions for the same work. So you see the issue here. Several tech companies are scheduled to report earnings this week. And analysts say this DeepSeek announcement, it could result in some major market movements in the near future. So today we spoke with an expert who says it's still quite too early to know what the real implications will be here.

Speaker 3: I think that it's going to still be, you know, a little bit of time before we know exactly how this impacts the technology sector and even the US economy as a whole. So there still is so much to sort through here in that we're dealing with a very new technology and AI overall and a very, very new platform that's been released in the last week. And we don't know exactly what the long-term ramifications of that are gonna be.

Speaker 2: A lot of eyes on this for sure. DeepSeek's app already hit the top of Apple's App Store chart on Monday morning. David. All right, Courtney, thank you.