DeepSeek sparks hope for renaissance in China’s technology megacaps

The rise of Chinese AI startup DeepSeek is forcing investors to re-evaluate the nation’s leading internet companies and their potential to capitalize on artificial intelligence that’s boosted global peers.

Market watchers are increasingly touting how the AI model will be a game changer for Chinese tech companies and their stocks, which have remained under pressure by concerns over the economy. Already Alibaba Group Holding Ltd. shares surged last week over such hype, with a gauge of tech stocks entering a bull market on Friday.