What is DeepSeek, and what does it mean for AI companies in US?

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DeepSeek, a new virtual assistant from a small Chinese company with limited resources, fueled a massive stock selloff on Wall Street Monday and sent large U.S. companies reeling after it hit No. 1 on the Apple App Store. President Donald Trump says the new technology, which was created for only $5.6 million and is already outperforming top U.S. models, should be a “wake-up call for our industries.” NBC’s Christine Romans reports for TODAY.

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