(BFM Stock Exchange) – American technological values ​​suffer from Wall Street, mined by the announcements of the Chinese company Deepseek, which has developed a comparable and less expensive artificial intelligence (AI) model than the American jugg for Chatgpt.

The start of the week is tough on the stock market for the technology sector, prey to a big questioning after the advances in Deepseek, a Chinese company in artificial intelligence.

“One of the reasons for this stress comes from the noise surrounding the Chinese start-up Deepseek whose Deepseek-R1 model would achieve performance comparable to those of the O1 model of Openai at a very much lower development cost,” said Alexandre Baradez, manager market analysis at IG France.

Founded by Liang Wenfeng, this young company develops a language model, an AI assistant, comparable to the famous Openai chatgpt. Deepseek launched its flagship V3 model in December in China, before presenting R1, a model specializing in complex problem solving on January 20.

At Wall Street, the Nasdaq 100 still gave up 2.8% after losing more than 4%, this Monday, January 27. In Paris, the fears around the Chinese group of IA Deepseek leads Schneider Electric and Legrand on the stock market, which fall respectively by 7.5% and 6.5% respectively accusing the two largest decreases of the CAC 40. This stress is Also measurement by a strong vix fever push, the star index of fear jumped by 28%.

Upset

Deepseek “has built a cheaper and competitive chatbot, with fewer high -end computer flea than American mastodons like Google and Openai”, notes the New York Times.

However, this information has not fallen this weekend, notes Alexandre Baradez, who recalls that “it’s been several weeks that we have been talking about Deepseek but the pressure was suddenly rose to the markets because the budgets allocated by The ‘Big Techs’ to the development of intelligence models do not slow down, like ‘Stargate’ and its $ 500 billion, as well as Meta announcements at the end of last week “.

“The question of the capacity of large technological groups to make profitable the gigantic investments suddenly seems to arise in markets, in a highly competitive environment as shown by the performance of Chinese artificial intelligences,” he continues.

Deepseek “is deeply problematic for the thesis according to which investment expenses and the considerable operating costs that Silicon Valley has incurred constitute the most appropriate way to approach the trend of AI,” told Bloomberg Nirgunan Tiruchevam, by Aletheia Capital.

The shattering arrival of this Chinese actor comes to upset an entire ecosystem archi-Dominated by American groups. First chief NVIDIA, whose growth has been brought to the last two years, by high demand for its graphic processors, necessary for the development of large models of artificial intelligence (AI).

Carried by this boom, its course has multiplied by almost nine in two years and the group has become the first world market capitalization. But this comfortable advance may be well started this Monday, the title of the Grand Barometer of the AI ​​lost 13% in the first exchanges at Wall Street.

Nvidia is currently engulfed more than $ 460 billion on the basis of a market capitalization close to 3.500 billion dollars, according to CompaniesmarketCap.com. More than the LVMH market capitalization on the Paris Stock Exchange.

Especially with the fall of the day, Nvidia is demoted to third place in the largest world capitalization and to date a market capitalization of $ 2.936 billion, behind Apple (3.224 billion dollars), and Microsoft (3.024 billion dollars))

The Rival AMD loses 4.5%. Another group of semiconductors, Broadcom also suffers, abandoning 12.5%.

A weakened American tech

The other “seven magnificent” exposed to the theme of AI are not to be outdone, and should also experience a complicated session at Wall Street. Meta and alphabet, lost more than 3% at the opening.

“We may still have concerns about Deepseek’s disruptive ability – a Chinese technology company which in less than two months and less than $ 6 million would have managed to build a large -scale IA model, free and open source,” Christopher Dembik, investment strategy advisor at Pictet AM.

“This questions the real technological advance of the Americans in AI. However, you must be careful about the information revealed by Deepseek which is not confirmed, for the moment, by reliable and external sources”, wishes to temper The specialist.

“Although the alarm bell sounds today for the” 7 magnificent “, the situation could evolve quickly. Uncertainties remain regarding the exact functioning of Deepseek, its safety and its robustness, “note the economists of ING.

Deepseek announcements have caused an important earthquake at the dawn of a season of crucial results for several big names in American technology. Above all, with regard to their almost systemic stock market weight, the results of these companies will be closely monitored, they who had brought the US markets over the last two years.

“Technological values ​​suddenly seem weakened in the markets at the beginning of a week when the quarterly publications of some of the ‘magnificent’ will be known: Tesla, Meta, Microsoft or Apple will announce their results on Wednesday and Thursday, investors will also scrutinize the ‘Guidance’ (projections) of these groups, “said Alexandre Baradez.

“The publication of the quarterly results of American technological values ​​from Wednesday (Tesla, Microsoft, Meta, IBM etc.) should rather reassure investors. In particular, the evolution of net cash flows which is a good indicator must be closely of the financial health of a company and its ability to take stock of action – a basic blade of structural support on the rise in the market, “hopes Christopher Dembik.