Reported 2 days ago
The unveiling of a cost-effective AI model by China's startup DeepSeek has caused a significant downturn in tech stocks worldwide, as investors reevaluate the demand for high-tech chips in the AI sector. DeepSeek claims its model operates on cheaper chips and requires less data, challenging the narrative that AI demand will escalate chip production. As a result, major tech companies like Nvidia and Microsoft saw substantial stock drops, and analysts are concerned about the implications for US-led AI dominance.
Source: YAHOO