Chinese state-linked social media accounts amplified narratives celebrating the launch of Chinese startup DeepSeek's AI models last week, days before the news tanked U.S. tech stocks, according to online analysis firm Graphika.

A frenzy over an artificial intelligence chatbot made by Chinese tech startup DeepSeek was upending stock markets Monday and fueling debates over the economic and geopolitical competition between the U.

DeepSeek, a Hangzhou-based startup founded in 2023, shot to the top of Apple’s App Store free app chart after releasing a new open-source AI model it says rivals OpenAI's work. Its website was hit by outages amid a spike in interest.

Adjusted per-share earnings came ahead of Wall Street estimates.

For the December quarter, the technology company reported earnings of $3.92 a share versus the consensus estimate of $3.78 a share.

In a statement, IBM CEO Arvind Krishna said the company has recorded $5 billion in bookings for its generative AI business.

Global stocks have advanced in thin Lunar New Year trading following a rebound on Wall Street driven by tech stocks as the panic over Chinese AI company DeepSeek fades.

U.S. stocks slipped after the Federal Reserve held its main interest rate steady and broke a run of cuts that began in September

U.S. equity indexes dipped and the dollar was firm on Wednesday after the Federal Reserve held interest rates steady and gave little insight into when further reductions in borrowing costs may take place.