Asian shares Friday were mixed, with Chinese technology stocks rising as most other Asian equities declined.Japan’s benchmark Nikkei 225 dipped nearly 0.72% in afternoon trading to 38,787.02. Australia’s S&P/ASX 200 slid just 0.

Lower construction spending on data centers because of DeepSeek could negatively impact heavy equipment stocks like Caterpillar, JPMorgan said.

The little-known artificial intelligence firm has emphasized research, even as it emerged as the brainchild of a hedge fund.

A tariff tantrum. DeepSeek’s deep impact. The Philadelphia Eagles’ return to the Super Bowl. Investors have seen plenty to put them on edge so far in 2025.

In a matter of days, DeepSeek proved to be so popular as to climb to the top of Apple's App Store, surpassing OpenAI's ChatGPT as the most downloaded app. But for owners of Nvidia stock, and stock traders in general, DeepSeek is on track of becoming a black swan — an unexpected event with extreme consequences.

Entrepreneur Marc Andreessen, known for co-writing Mosaic, one of the world’s first web browsers, wrote Sunday on X that “DeepSeek R1 is AI’s Sputnik moment,” likening it to the space race between the U.S. and the Soviet Union and the event that forced the U.S. to realize that its technological abilities were not unassailable.

A gauge of Chinese tech shares trading in Hong Kong was poised to enter a technical bull market after DeepSeek’s artificial intelligence model ignited interest in China’s internet firms.

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