A Chinese artificial intelligence company, DeepSeek, has emerged as a major disruptor in the tech sector, releasing an AI app that rivals OpenAI's ChatGPT at a fraction of the cost. DeepSeek's low development costs and impressive performance have raised concerns about the future of U.S. tech giants like Nvidia and Google, sending shockwaves through Wall Street and prompting a reassessment of the AI landscape.
A Chinese artificial intelligence company called DeepSeek is grabbing America's attention — and sending a shock wave through Wall Street — due to its new tech, which some experts say rivals that of OpenAI's ChatGPT. DeepSeek is also catching investors off guard because of the low development costs for its AI app, which Wedbush Securities analyst Dan Ives pegged at only $6 million. By comparison, OpenAI, Google and other major U.S.
20, which is causing Wall Street to reappraise the AI sector. 'Last week DeepSeek launched a model that rivals OpenAI's ChatGPT and Meta's Llama 3.1 and was #1 on Apple's App Store over the weekend,' Wedbush's Ives wrote. 'DeepSeek built the model using reduced capability chips from Nvidia. which is impressive and thus has caused major agita for U.S. tech stocks with massive pressure on Nasdaq this morning.
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