Top stories today:

1. DeepSeek rattles stocks as traders worry about tech leadership
2. Trump: “spoken to many people about TikTok,” “not with Oracle”
3. Elon Musk’s DOGE sets up job site to recruit full-time employees in D.C.
4. New DeepSeek, Gemini models enhance price-ELO Pareto frontier
5. Colombia accepts deportation flights after Trump’s 25% tariff threat

0. Data and calendar

Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

1. DeepSeek rattles stocks as traders worry about tech leadership

• -5% in Nasdaq 100 futures and -3% in the S&P 500.

• The decline comes ahead of earnings from major U.S. tech companies, including Apple and Microsoft.

• +1% in the Hang Seng Tech Index.

• ASML -11%.

• Some Meta leaders are worried that they are falling behind in the AI face.

DeepSeek’s AI assistant also became the top free app on Apple’s App Store, surpassing OpenAI’s ChatGPT

3. Trump: “spoken to many people about TikTok,” “not with Oracle”

• Fri.: Oracle and White House officials reportedly met to discuss a potential deal.

• Oracle would oversee TikTok’s algorithm, data collection, and software updates.

• In the next 30 days, Trump expects a decision.

• Perplexity updated its proposed TikTok merger plan, with the U.S. government getting an up-to-50% stake.

4. Elon Musk’s DOGE sets up job site to recruit full-time, salaried employees in D.C.