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Why did the crypto market plummet because of DeepSeek?
Recently, a Chinese startup developed an AI model called DeepSeek at a cost of $6 million.
In comparison, US-based OpenAI (ChatGPT) has raised $17.9 billion to date.
But DeepSeek surpassed its performance at less than 1% of ChatGPT’s cost, setting off a chain reaction in global markets.
The underlying reason: a reversal of market sentiment
Many U.S. technology stocks, especially leading companies in the field of artificial intelligence, such as Nvidia and Microsoft, have grown significantly in the past few years due to the A.I. narrative.
In comparison, US-based OpenAI (ChatGPT) has raised $17.9 billion to date.
But DeepSeek surpassed its performance at less than 1% of ChatGPT’s cost, setting off a chain reaction in global markets.
The underlying reason: a reversal of market sentiment
Many U.S. technology stocks, especially leading companies in the field of artificial intelligence, such as Nvidia and Microsoft, have grown significantly in the past few years due to the A.I. narrative.
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