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Chinese internet stocks gain as DeepSeek shakes up AI market

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Investing.com-- Leading Chinese internet stocks such as Tencent Holdings Ltd (HK: 0700 ), Alibaba (NYSE: BABA) Group Holding Ltd (HK: 9988 ), and Baidu (NASDAQ: BIDU) Inc (HK: 9888) experienced notable gains, driven by speculation surrounding advancements from AI startup DeepSeek.
The article discusses the recent surge in Chinese internet stocks, driven by developments in the AI sector, particularly with the emergence of DeepSeek, a new AI model developed by a Chinese startup. DeepSeek, which has shown capabilities comparable to leading Western AI models like Meta's Llama, has sparked optimism about China's potential to compete in the global AI market. This news has led to significant gains in stocks of companies like Baidu, Alibaba, and Tencent, as investors anticipate that these firms could leverage the new technology to enhance their AI offerings. The article highlights how DeepSeek's introduction is seen as a potential game-changer, reducing the technological gap with the U.S. and possibly leading to a more competitive AI landscape. Furthermore, it notes the broader implications for China's tech industry, suggesting that this could be a pivotal moment for Chinese tech companies to assert themselves on the world stage in AI innovation.

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[ https://in.investing.com/news/stock-market-news/chinese-internet-stocks-gain-as-deepseek-shakes-up-ai-market-4630288 ]