AsianFin -- Bank of America (BofA) has suggested that DeepSeek could mark a pivotal moment for China's stock market, comparable to Alibaba’s IPO in 2014, which fueled the rise of China’s “new economy” sector and attracted long-term global capital inflows.

According to BofA, the "holy grail" of China’s AI development may not necessarily be having the “best-in-class” models, but rather AI that is “good enough” to support large-scale applications, driving productivity and economic growth.

The impact of DeepSeek’s emergence is far-reaching, with some likening it to AI’s “Sputnik moment”. However, BofA argues that its significance is more aligned with Alibaba’s IPO, signaling a major inflection point for China’s stock market.