What the heck was that? Oh, nothing. It was just an infant artificial intelligence meteorite from China named DeepSeek that wiped out more than $1 trillion in value on Wall Street. The US financial markets are taking another look at their calculations to determine if they might have forgotten to carry the one when estimating their future AI investments since the ChatGPT craze that began three years ago.
DeepSeek Triggers Deep Losses
DeepSeek, established in 2023 by a hedge fund, ignited a frenzy on Wall Street and Silicon Valley during the Jan. 27 trading session. The Chinese tech startup developed an AI model comparable to the ones manufactured by Google, Meta, OpenAI, and the scores of other platforms. In some cases, DeepSeek performed as well as these creations on tasks like natural language reasoning and coding. In some other instances, the company…
