The financial markets are reacting sharply to the announcement from Chinese firm DeepSeek, which claims to have developed a competitively priced AI application that rivals existing US models. As Wall Street responds negatively, tech giants like Nvidia see significant stock declines. Despite governmental restrictions limiting Chinese firms' access to advanced AI chips, DeepSeek's app has gained immediate popularity, topping Apple's App Store charts. Yet, industry experts voice skepticism about the broader implications for the AI ecosystem, given the established dominance of major chipmakers and utilities.
DeepSeek's R1 model was AI's Sputnik moment, referencing the Soviet Union's launch of a satellite that marked the start of the space race with the US.
DeepSeek's app had already hit the top of Apple's App Store chart by Monday morning, which analysts found particularly impressive.
Marc Andreessen described DeepSeek R1 as one of the most amazing and impressive breakthroughs he's ever seen, labeling it a profound gift to the world.
While there is excitement around DeepSeek's advances, skepticism remains about how much this could shift the AI supply chain across various industries.
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