DEEPSEEK'S Shockwave Hits Billionaires! š„š
The world's 500 richest individuals just faced a massive $108 billion loss, and the culprit?
A Chinese AI disruptorāDeepSeek! š¤š
DeepSeekās chatbot R1 went viral šš, shaking up the AI race and dragging down major tech stocks. Nvidiaās Jensen Huang lost $20B šø (20% of his fortune), while Oracleās Larry Ellison saw a $22.6B dip š±.
Even Binanceās CZ Zhao and Dellās Michael Dell werenāt spared, losing $12.1B and $13B, respectively.
The tech industry alone took a $94B hit š, making up 85% of the Bloomberg Indexās decline. The Nasdaq plunged 31%, and the S&P 500 slid down 1.5% š.
Whatās causing the panic?
DeepSeek R1ās explosive growth šš„.
It topped download charts š², gained millions of users overnight š, and even crashed under demand!
Sign-ups were restricted to Chinese numbers as servers struggled to keep up ā ļø.
This unexpected AI revolution was built with just $56M š¤Æ, challenging Silicon Valleyās belief that only big budgets build big AI. Western AI billionaires are reeling, as their two-year stock market dominance crumbles šØš.
And now the question is
Is DeepSeek the next AI king?
Or just a temporary storm? ā³
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