Conversation

China's new DeepSeek 'AI' product claims to have used much less powerful chips than rivals to develop its models, making them far cheaper to produce.

This has freaked investors out, worried that their massive investments in AI were overblown, in turn wiping 465B off Nvidia's value - the largest fall in US stock market history. Other US Big Tech firms took a hit, with OpenAI, DeepSeek's rival, esp unhappy:
https://www.theguardian.com/business/2025/jan/27/tech-shares-asia-europe-fall-china-ai-deepseek

(Notably, as soon as DeepSeek topped app stores, it was DDoS'd)