"In our view this is a correction and not the start of a sustained bear market," Goldman Sachs said. DeepSeek sparked a $1 trillion market rout on Monday.

The report comes as tech stocks, led by the Magnificent Seven—think Apple, Microsoft, Google, and their mega-cap friends—take a hit after DeepSeek’s debut.

Monday’s trillion-dollar stock-market wipeout will be remembered as an opportunity to scoop up shares of some of the most valuable U.S. companies at a discount, according to a team of equity strategists at Goldman Sachs Group.

As we’ve written numerous times elsewhere, the cause of Monday’s DeepSeek market wobble were fears that good-enough LLMs won’t cost billions to build and run, and that supplying them won’t be a winner-take-all competition.