On January 27, according to Bloomberg, U.S. stock index futures slumped in early Asian trading on Monday due to concerns that China's DeepSeek artificial intelligence model could roil the technology market. As of 10:12 a.m. Hong Kong time, S & P 500 futures were down as much as 1 percent and Nasdaq 100 futures were down as much as 1.9 percent. DeepSeek last week released an upgraded version of its artificial intelligence model and said it was comparable to OpenAI's technology. Over the weekend, reports that the product runs on lower-performance chips and costs less, raising questions about the dominance of U.S. tech companies such as Nvidia. Nirgunan Tiruchelvam, head of consumer and internet at Aletheia Capital, said the DeepSeek product seriously contradicts the argument that Silicon Valley's huge capital and operating expenses are the most appropriate way to respond to the artificial intelligence trend. It casts doubt on the vast resources devoted to artificial intelligence.