DeepSeek -- the Chinese AI that sparked a stock market panic
Today has seen millions of dollars wiped off US market tech stocks by the launch of DeepSeek, the latest Chinese AI that threatens US dominance in the sector.
This is partly because DeepSeek can run on much less powerful hardware than rivals such as OpenAI's o1. DeepSeek also says that its v3 model, released in December, cost less than $6 million to train, less than a tenth of what Meta spent on its most recent system.