OpenAI, the U.S.-based developer of ChatGPT, recently reduced the prices of two of its latest low- and mid-tier AI models, sparking a sharp decline in Asian stock markets amid a broader tech selloff. As of 1:02 p.m. Beijing time today, the Seoul stock index was down 1.2%, following a 5.1% drop yesterday. The decline in South Korean stocks was partly driven by forced deleveraging, rather than solely by the AI company’s price cuts, while Chinese tech stocks’ decline was more related to weak global sentiment toward hardware. This price reduction has increased valuation fluctuations across global AI assets, according to Pan Jun, an investment manager at Cheese Fund. It has shifted investor focus from expanding compute capacity to assessing returns on AI investments and monetizing AI applications.