Donald Trump has labeled China's new AI model, DeepSeek, a "wake-up call" for the American tech sector following Nvidia's staggering $600 billion market value loss.
DeepSeek's emergence triggered a sharp decline in AI-focused company stocks. Nvidia, a leading GPU provider crucial for AI model operation, suffered the most significant blow, experiencing a 16.86% share drop—a record on Wall Street. Microsoft, Meta Platforms, Alphabet (Google's parent company), and Dell Technologies also experienced declines ranging from 2.1% to 8.7%.
Although this claim faces some skepticism, DeepSeek has raised questions about the massive AI investments of American tech giants, unsettling investors. Its popularity surged, reaching the top of the U.S. free app download charts amidst growing discussions about its efficacy.
Sheldon Fernandez, co-founder of DarwinAI, commented to CBC News, stating that DeepSeek "performs as well as, and in some cases better than, leading Silicon Valley models, but with a fraction of the resources." He further highlighted the disruption to business models, noting the potential for free access to features previously requiring substantial monthly subscriptions.
President Trump, however, offered a more optimistic perspective, suggesting DeepSeek could be beneficial for the U.S. by reducing development costs while potentially achieving similar results. He emphasized the U.S.'s continued AI dominance.
Despite DeepSeek's impact, Nvidia retains a $2.90 trillion valuation. The company is poised to release its highly anticipated RTX 5090 and RTX 5080 GPUs later this week, generating significant consumer demand.
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