Trump's Foxconn lesson

Out of the DeepSeek blue: Global tech stocks were rocked by the sudden surge to prominence of DeepSeek, a Chinese startup developing AI mode

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Tech Across the Globe

Out of the DeepSeek blue: Global tech stocks were rocked by the sudden surge to prominence of DeepSeek, a Chinese startup developing AI models to rival OpenAI, whose chatbot app took the top spot for iPhone downloads in the US. DeepSeek is seen as a compelling counterpoint to expectations of US AI dominance. Mistral's minstrel: Jean Charles Samuelian-Werve, 37, is the de facto chief strategist, broker and consigliere of Mistral AI, playing a critical role in the effort to develop European AI capabilities anywhere close to US competitors. Apple's new urgency: The iPhone maker gave one of its top troubleshooters, executive Kim Vorrath, a new assignment: improve the company's AI efforts and Siri digital assistant.

Revalued

SoftBank's shares plunged by 8.3%, their biggest drop since August, amid the wider selloff of companies engaged in the AI hardware buildout effort. Days earlier, SoftBank had surged by more than 10% on its announcement of Project Stargate in Texas, but Monday brought a very different mood for bets on AI spending.

Must Read

The $500 billion Project Stargate announced by Donald Trump's administration last week evoked memories of Foxconn's Wisconsin plant, which the president had labeled a world wonder in his first term. But, argues Austin Carr in today's Tech In Depth, the two projects couldn't be any more different, with the returning president having learned some lessons.

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