Nasdaq futures slumped and technology shares slid in Japan on Monday as surging popularity of a Chinese discount artificial intelligence model wobbled investors' faith in the profitability of AI and the sector's voracious demand for high-tech chips.

DeepSeek, a Chinese AI startup that’s just over a year old, has stirred awe and consternation in Silicon Valley after demonstrating breakthrough artificial intelligence models that offer comparable performance to the world’s best chatbots at seemingly a fraction of the cost.

DeepSeek topped the Apple App Store over the weekend, and R1 had already cracked the top 10 of the UC Berkeley leader board Chatbot Arena, a ranking of the top-performing AI assis

China and India should work in the same direction, explore more substantive measures and commit to mutual understanding, Chinese Foreign Minister Wang Yi told Indian Foreign Secretary Vikram Misri in Beijing on Monday.

India and China should meet each other halfway and commit themselves to mutual understanding rather than mutual suspicion, Chinese Foreign Minister Wang Yi said on Monday as he met Foreign Secretary V

Indian Foreign Secretary Vikram Misri on Monday met Chinese Foreign Minister Wang Yi in Beijing where he said India is willing to work with China to jointly celebrate the 75th anniversary of the establishment of diplomatic relations and will fully support China in its role as the rotating chair of the Shanghai Cooperation Organization.