DeepSeek Turned Tech and Wall Street Upside Down

For two years, the belief that artificial intelligence (AI) would boost productivity has driven stock-market gains, with Nvidia, a leader in AI chip manufacturing, at the forefront.

However, this optimism turned sour after the release of DeepSeek, a Chinese AI model that rivaled OpenAI’s offerings but required less computing power, potentially reducing demand for Nvidia’s high-end chips.

This led to a massive drop in Nvidia’s stock by 17%, causing a broader tech sell-off and a $1 trillion market value loss, the Wall Street Journal has reported.

read more: https://www.wsj.com/finance/stocks/the-day-deepseek-turned-tech-and-wall-street-upside-down-f2a70b69

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