Leaders at Microsoft and Meta told investors that China’s DeepSeek doesn’t harm their businesses and that they will still spend billions on AI data centers.

The selloff​ extended to shares of natural-gas producers, pipeline operators, mining companies​, and electricity generators.

The breakout success of Chinese AI platform DeepSeek doesn’t mean a dimmer future for the US electric grid, despite what Wall Street seems to think, the billionaire CEO of a company racing to produce low-carbon power from natural gas told Semafor.