DeepSeek spooked US markets on news that the model’s developers were able to produce a worthy competitor to American AI firms like OpenAI at a fraction of the cost. The firm claims it was able to develop its AI model on a shoestring budget of just under $6 million using less advanced hardware from semiconductor manufacturer Nvidia.

Bitcoin on Monday fell below its $100,000 milestone for the first time in a week, as Chinese startup DeepSeek raised prospect of cheaper artificial intelligence models, sparking a tech selloff and weighing on broader investor sentiment.

On today's episode of CNBC Crypto World, bitcoin stumbles after Chinese startup DeepSeek reveals an AI model that puts the U.S. dominance in artificial intelligence in question and leads to a sell-off of tech stocks.