It's another day of tech turmoil on the markets.

Life in the UK, this is the Marketplace Morning Report from the BBC World Service.

I'm Leanna Byrne. Good morning.

Deepseek, a little-known startup from Hangzhou in China, is causing chaos on global markets.

For the second day, tech stocks fell on Asian markets,

and it's all because investors

continued to be shocked by the release of Deepseek's low-cost AI chatbot. The chat GPT founder, Sam Altman,

called it an impressive model and welcomed the competition, but said his company OpenAI was

committed to delivering better models. The BBC's Seranginet Tuari is keeping an eye on this one from Singapore. Hello. Hi there.

So essentially investors, they're just concerned about these AI advancements in China and that's having a huge effect on the stock market.

That's right. I mean, technology stocks dived on Wall Street and Asia largely followed that here, especially tech stocks in Japan, and the Niki was down around 1.7% at one point during trade.

So largely tracking what was going on in the US.

And the reason that this happened is because of the emergence of that low-cost

Chinese artificial intelligence model. And it really made investors question the sky-high

valuation and dominance of AI pioneers, the likes of Nvidia, which has really been the

poster child of the AI boom in recent years. Shares in the company felt 17%

overnight and that wiped $593 billion from its market value. So lots of people around the

world now saying, well, if this Chinese company can make an AI model that does the same things more cheaply,

then why on earth are we investing and pumping up companies like Nvidia?

Yeah, what sets deep-seek slowcast AI chatbot apart from the likes of chat GPT?

The difference is the company is claiming to use a fraction of the computer chips needed in the AI models.

And remember that this is coming against the backdrop of a lot of restrictions on the materials,

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