LIVE | $1Tn Wipeout: China's DeepSeek Sends US Tech Stocks Plunging |Vantage with Palki Sharma | N18G
Chinese tech company Deepseek unveiled its artificial intelligence (AI) models and chatbots. Deepseek's AI assistance soon became the top-rated app in the Apple Store and sent top tech stocks into a downward tumble.
Soon after the launch, the value of chip maker Nvidia dropped by as much as $593 billion overnight—a record 17 per cent one-day loss. Nvidia's CEO Jensen Huang's fortune took a $20 million hit. Notably, Deepseek's AI models have been trained using Nvidia's semiconductor chips. Stocks of other tech giants including Microsoft, Alphabet, Google, Apple and Meta also suffered major dip as 1 trillion dollars were wiped off in a single day.
Deepseek's cost-effective AI models are making waves across the globe and giving the American giants like Open AI's ChatGPT and Google's Gemini a run for their money. While Deepseek's AI models were trained for just $6 million and are available to the users for free, OpenAI is burning $5 billion a year on training and comes with a hefty price tag.
As the traffic on Chinese AI app increased manifold, Deepseek got hit by a cyberattack forcing the makers to limit the registrations. Despite this attack, China-made Deepseek managed to cause a notable disruption in the global AI race within a few hours of its launch. Palki Sharma tells you more.
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Deepseek | Artificial Intelligence | China | ChatGPT | Google Gemini | Firstpost | World News | News Live | Vantage | Palki Sharma | News
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Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
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