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 frenzy over an artificial intelligence chatbot made by Chinese tech startup DeepSeek was upending stock markets Monday and fueling debates over the economic and geopolitical competition between the U.

U.S. tech stocks, including Nvidia, Oracle and Broadcom, plummeted Monday after Chinese startup DeepSeek said it created an AI system that can compete against chatbots such as OpenAI's ChatGPT at much lower costs.