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The Trump White House is reportedly weighing a ban on Chinese AI models as the artificial intelligence supremacy race between Washington and Beijing intensifies. Chinese models perform many of the same tasks at a fraction of the cost of US alternatives, and their prospective public listings could dilute investor appetite for mega-IPOs like Anthropic and OpenAI.
Chinese AI firm DeepSeek is raising fresh capital at a $74 billion valuation ahead of a planned onshore initial public offering, sources say. The round would cement DeepSeek's position among the most valuable AI companies as competition with US rivals intensifies.
Global stocks closed the week lower as a sharp sell-off in semiconductor shares weighed on markets. Oil prices, meanwhile, headed for a weekly gain as hostilities in the Gulf intensified.
The Trump administration is taking steps to control who gets access to the latest frontier AI models from companies including Anthropic and OpenAI, people familiar with the matter told CNBC. The move signals a shift in power from Silicon Valley toward the federal government.
Nvidia and other major technology stocks tumbled after Chinese startup Moonshot AI unveiled Kimi K3, a new open-weight model it claims can rival OpenAI and Anthropic. Investors are increasingly concerned that cheaper Chinese open models could erode the competitive edge of leading US AI firms.