Safe Stocks Soar on DeepSeek News. Why Conagra, Smucker, and Kraft Heinz Were All Higher Today.

News of China's DeepSeek AI chatbot shook the stock market today. While tech stocks plunged on the news, there were some winners.In fact, investors interpreted the launch of the new generative AI tool as a good reason to rotate into safe stocks like consumer staples. DeepSeek is perceived as a threat to AI stocks like Nvidia, Taiwan Semiconductor, and the rest of the chip sector, which crashed on the news, because it seems to achieve a similar level of proficiency to American peers like ChatGPT, but uses much less power and is much cheaper to run, due in part to being open source.Among the stocks that were winners on today's rotation were Conagra Brands (NYSE: CAG), J.M. Smucker (NYSE: SJM), and Kraft Heinz (NASDAQ: KHC). As of 2:18 p.m. ET, those stocks were up 3.9%, 3.5%, and 3.4%, respectively.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool