Sputnik-like moment, we need to wake up: Ramaswamy on DeepSeek selloff

US-based Indian-origin entrepreneur Vivek Ramaswamy called the crash in US markets after launch of Chinese AI model DeepSeek a 'Sputnik-like moment'. "Sputnik-like moments are a good thing. We don't need to freak out, we just need to wake up," wrote Ramaswamy on X. DeepSeek triggered a selloff which resulted in tech stocks bleeding globally.