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DeepSeek clouds AI picture just as Big Tech is set to report earnings

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China -based DeepSeek AI sent Wall Street into panic mode over claims that its latest AI model matches performance of models produced by Silicon Valley’s biggest tech names, including OpenAI and Meta , for just a fraction of the cost.

Now the big question on investors’ minds is how Big Tech will respond to what could mark a titanic shift in the ever-changing AI space.