DeepSeek fuels Chinese tech stock rally as valuation gap narrows vs ‘Magnificent Seven’
The success of Chinese artificial intelligence (AI) start-up DeepSeek is prompting investors to reassess the nation’s technology companies that trade at half of the valuation of the ‘Magnificent Seven’ US tech giants. The Hang Seng Tech Index, whose biggest members include Tencent Holdings, Alibaba Group Holding and Xiaomi, approached a four-month high on Thursday, after…