Chinese AI app DeepSeek, known for its low-cost and high performance, has surpassed ChatGPT in popularity on Apple's US App Store, triggering a sell-off in tech stocks and raising concerns about the sustainability of massive investments in AI.
A Chinese artificial intelligence app called DeepSeek has dethroned ChatGPT, causing a ripple effect across the tech industry. DeepSeek, launched last week by Chinese startup Liang Wenfeng, offers a free AI assistant that claims to be more cost-effective than its American counterparts. Its rapid ascent to the top of Apple's US App Store rankings has sparked anxiety and triggered a sell-off in tech stocks, particularly affecting Nvidia , a dominant player in the AI chip market.
\The market reaction underscores growing concerns about the sustainability of the massive investments pouring into artificial intelligence. While companies like Nvidia have seen their valuations skyrocket due to their role in the AI race, some analysts question the near-term profitability of these investments. The emergence of a low-cost Chinese competitor like DeepSeek adds fuel to this skepticism, challenging the notion that only large, well-funded companies can achieve breakthroughs in AI. \DeepSeek's success suggests that the Biden administration's export controls aimed at limiting China's access to advanced AI chips may not be completely effective. The app reportedly operates on less sophisticated hardware than its American rivals, raising questions about the future of the AI chip market and potentially forcing established players to rethink their strategies. Leading tech companies, including Meta, have invested heavily in AI development, but DeepSeek's emergence demonstrates the disruptive potential of nimble startups and the competitive threat posed by China in the global AI landscape
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