That's because the US stock market is dominated by a minority of rich billionaire leftist technocrats who are all in on keeping their Big Tech monopoly and future monopoly on AI. That monopoly is slipping away from them now, THANKFULLY, due to a Chinese company releasing much cheaper and more powerful open source AI. And it's not a bad thing, it's good news if you support the free market and consumer choice, fair competition.
It kinda is. It proves to us once again we can make something better without spending so much money or having heavy regulatory bureaucracy. That's what that Chinese company did, they bucked a multi-billionaire establishment.