China's Seven Titans vs Wall Street's Magnificent Seven: DeepSeek sparks stocks re-rating

When Bonnie Chan Yiting was in Davos six weeks ago for the World Economic Forum's (WEF) annual confab, the Swiss ski resort was abuzz with a groundbreaking app that a little-known artificial intelligence (AI) start-up had released half a world away in China. Hangzhou-based DeepSeek rolled out its namesake app on January 20, providing its low-cost large language model (LLM) for free on the same day that the WEF got under way. Within two days, DeepSeek had overtaken OpenAI's ChatGPT as the most do