Chinese AI startup DeepSeek has caused a stir in the US technology market with its highly competitive and potentially cheaper AI models. DeepSeek's emergence raises doubts about the billions that major US tech companies are investing in AI, shaking investor confidence in the AI-driven bull market of the past two years.
Chinese AI startup DeepSeek sparked a rout in U.S. technology stocks as its highly competitive and potentially much cheaper models stoked doubts about the billions that the big U.S. tech companies are spending on AI.
DeepSeek's emergence is shaking up investor confidence in the AI story that has been lifting the U.S. bull market the past two years.in U.S. technology stocks Monday as its highly competitive — and potentially shockingly cost-effective — models stoked doubts about the hundreds of billions of dollars that America's biggest tech companies are spending on artificial intelligence.
DeepSeek was founded in May 2023 by Liang Wenfeng, who partly funded the company by his AI-powered hedge fund. In late December, the AI developer launched a free, open-source large language model that itOn Jan. 20, the Hangzhou, China-based DeepSeek released R1, a reasoning model that outperformed Open AI's latest o1 model in many third-party tests.
"What we found is that DeepSeek, which is the leading Chinese AI lab, their model is actually the top performing, or roughly on par with the best American models," Wang said on CNBC from the, co-founder and general partner of venture capital firm Andreessen Horowitz, sang DeepSeek's praises on X, saying the R1 model is"one of the most amazing and impressive breakthroughs" he's ever seen. Andreessen's portfolio includes Airbnb and dozens of AI companies.
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