China’s growing clout in the artificial intelligence space has sparked a wave of optimism toward the nation’s tech shares, with a gauge approaching a technical bull market and brokers issuing upbeat calls.

HONG KONG (AP) — Asian shares Friday were mixed, with Chinese technology stocks rising as most other Asian equities declined.

Robust gains by Chinese tech stocks have added billions of dollars in their market capitalization, driven by the sudden rise to fame by homegrown AI app DeepSeek.

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.

Tech stocks falling after small Chinese lab, DeepSeek, develops new AI model that challenges ChatGPT and Tesla; what to know.

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China’s DeepSeek and President Trump’s tariffs can’t seem to derail the stock market. The S&P 500 is coming off back-to-back winning sessions, shrugging off two sizable sell-offs in back-to-back weeks as well as a weak showing from Big Tech earnings.

Why Elon Musk’s new government title is a big deal, Qualcomm rides strong chip demand to beat estimates, and more news to start your day.