DeepSeek’s rise to the #1 spot is truly impressive, especially considering its development cost was just $10M. The Chinese AI company creating a competitive product to OpenAI at a significantly lower cost.
This achievement triggered bearish sentiment on Nvidia, which in turn dragging down the entire US financial market.
It’s an insane moment—an AI model that’s influencing and, in some ways, draining the financial market, including the crypto sector.