What is DeepSeek and why is it dumping the market?
DeepSeek is an AI startup which has created a ChatGPT like tool
But here's a simple twist:
Unlike ChatGPT which has raised over $17B at $150B valuation, DeepSeek has done it with just $10M.
As we know, in the last 2 years, the US and global stock market has pumped majorly on AI hype.
$100B+ has been raised by large companies to build AI tools with plans to raise even more in the future, but with DeepSeek's success, investors are realising that AI companies have raised way much amount and they are overvalued.
This is why NVIDIA is down 12% while NASDAQ is down 5%
The crypto market closely mirrors the US stock market so BTC and alts are dumping too.
Do you think the US stock market bubble has popped?
