DeepSeek’s artificial intelligence assistant app has been a huge success so far, with over 1 million downloads on Android devices (GOOGL) in the U.S. According to data from AppBrain by QR Code Generator, the app was downloaded 1,070,186 times from January 21 on Android devices. Additionally, it was downloaded 445,895 times between January 25 and January 27.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Given the popularity of the app on Android devices, which account for 45% of the U.S. market, it’s possible that the total number of downloads in the U.S. could exceed 2 million. The app has even surpassed OpenAI’s ChatGPT in the App Store and Play Store rankings. The success of DeepSeek’s app has significant implications for the tech industry.
The launch of the app and its underlying large language model, R1, sent shockwaves throughout the U.S. tech and investor communities, which wiped out nearly $600 billion in value from Nvidia (NVDA), a leading AI chip company. DeepSeek’s advancements indicate that we are beginning to see a significant shift in the AI landscape as China increasingly plays a major role in the industry despite chip export controls from the U.S.
Which Stock Is the Better Buy, GOOGL or NVDA?
Turning to Wall Street, out of the two stocks mentioned above, analysts think that NVDA stock has more room to run than GOOGL. In fact, NVDA’s price target of $178.32 per share implies almost 40% upside versus GOOGL’s 12%.
