Today could be a very red day in the stock market, and DeepSeek might be to blame. China's AI startup DeepSeek has captured the attention of enthusiasts ever since its launched its latest reasoning AI model,

DeepSeek released an open-source artificial intelligence model in December, saying it took only two months and less than $6 million to create it.

The Nasdaq & S&P 500 fell after Chinese startup DeepSeek shows AI can be built cheaply, sparking fears AI spending will stall. The blue-chip Dow rose.

Silicon Valley venture capitalist Marc Andreessen has hailed DeepSeek as "one of the most amazing and impressive breakthroughs" in AI. The company says its latest AI models are on par with industry-leading models in the US - like ChatGPT - at a fraction of the cost.

A major tech stock sell-off ensued Monday as the debut of DeepSeek rattled investors. Nvidia, Alphabet, and Microsoft were among the biggest losers.