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.

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.