In a stunning turn of events, the Chinese AI startup DeepSeek has sent shockwaves through Silicon Valley, erasing $1 trillion worth of value from US stocks in just 24 hours.
So, what exactly is DeepSeek, and why is it shaking up the entire AI industry?
So, what exactly is DeepSeek, and why is it shaking up the entire AI industry?
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00:00In a stunning turn of events, the Chinese AI startup DeepSeek has sent shockwaves through
00:06Silicon Valley, erasing $1 trillion worth of value from US stocks in just 24 hours.
00:12So what exactly is DeepSeek and why is it shaking up the entire AI industry?
00:18Founded in 2023 in China's Hangzhou, DeepSeek has rapidly ascended to prominence with its
00:24latest AI model, DeepSeek V3.
00:28It boasted 671 billion parameters and was trained in just 55 days at a cost of just
00:35under $6 million, a fraction of the expenditure by Western tech giants.
00:41The chatbot has even surpassed ChatGPT as the top-rated free app on the US App Store.
00:47The financial markets have felt the tremors of this breakthrough.
00:51NVIDIA, a major player in AI hardware, experienced a historic 17% drop in its stock value, wiping
00:58out nearly $600 billion of its market value, the largest single-day loss in Wall Street
01:05history.
01:06Well, DeepSeek's rise not only challenges the technological supremacy of US firms, but
01:10also raises questions about the effectiveness of export restrictions on advanced AI chips
01:16to China.
01:17Despite these limitations, DeepSeek has achieved remarkable success and some are labelling
01:22this as AI's Sputnik moment.
01:24Meanwhile, Donald Trump is calling this a wake-up call for US companies.
01:28The release of DeepSeek AI from a Chinese company should be a wake-up call for our industries
01:36that we need to be laser-focused on competing to win because we have the greatest scientists
01:41in the world.
01:42Even Chinese leadership told me that.
01:44As the AI landscape evolves rapidly, it's all eyes on DeepSeek and its ability to reshape
01:50the future of artificial intelligence.