Technology stocks led gains in Asia-Pacific markets on Wednesday, tracking advances on Wall Street overnight as investor angst ebbed over the emergence of a low-cost Chinese AI model that some see rivalling U.

U.S. tech stocks plunged on Monday, amid a wider market sell-off. The culprit: DeepSeek, a Chinese artificial intelligence company that last week introduced a new — and low-cost — model into the red-hot AI tech market.

DeepSeek released an open-source artificial intelligence model in December, saying it took only two months and less than $6 million to create it.

U.S. stock futures and Asian shares outside China slumped on Monday as investors weighed the implications of Chinese startup DeepSeek's launch of a free, open-source artificial intelligence model to rival OpenAI's ChatGPT.

Large technology firms paced declines, with Advantest Corp. sliding as much as 11% in Tokyo and SoftBank Group Corp. slumping 6%.

Investors dumped technology stocks in premarket trading Monday, sending U.S. indexes sharply lower after Chinese artificial intelligence startup DeepSeek demonstrated a chatbot that it says rivals the