DeepSeek Chinese AI chatbot sparks market turmoil for rivals
DeepSeek Chinese AI chatbot sparks market turmoil for rivals
www.bbc.com
Nvidia shares sink as Chinese AI app DeepSeek spooks US markets
Could things like this be what bursts the AI bubble?
EDIT: The BBC now has a continuous coverage article. Headlines:
- More than $500bn erased from Nvidia's value
- China throws wrench into AI race on a seemingly shoestring budget
- 'AI's Sputnik moment'
And of course:
How much have big tech stock prices dropped? published at 12:16
At the time of writing, these are Monday's losses from some of the biggest tech companies in the US.
- Microsoft : 3.7% drop
- Nvidia, the third-most valuable company in the US, behind Microsoft and Apple: 15% drop
- Alphabet (Google): 2.6% drop
- Tesla: 1.5% drop
- Cisco Systems: 4.9% drop
- Chipmaker Broadcom: 16.43% drop
Apple and Meta have slightly increased in value today, with Apple up 2.65% and Meta up 1.69%.
So, Altman says he needs $7 trillion to "innovate" AI in the US, when all of a sudden here comes Deepseek.
I don't know if this will burst the bubble. I hope it will. But at the very least, investors are going to want to know what the hell they've been paying for, and will likely insist that AI corps do more with less. I mean, it's all trash, but if you can make trash at one-tenth the price, there's going to be a real reluctance to keep handing out blank checks.