Entrepreneur Marc Andreessen, known for co-writing Mosaic, one of the world’s first web browsers, wrote Sunday on X that “DeepSeek R1 is AI’s Sputnik moment,” likening it to the space race between the U.S. and the Soviet Union and the event that forced the U.S. to realize that its technological abilities were not unassailable.

The tech-heavy Nasdaq composite closed down nearly 3% on Monday, with shares of AI-focused chipmaker Nvidia plunging 17% and shaving nearly $590 billion from the company’s market cap.

By Lawrence Delevingne, Samuel Indyk and Tom Westbrook BOSTON/LONDON/SINGAPORE (Reuters) -U.S. stock futures steadied, the dollar ticked higher and tech stocks in Asia slid on Tuesday following a wave of selling as apparent advances by a Chinese AI startup cast doubt on U.