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Trump is worried about DeepSeek.
Chinese AI Breakthrough DeepSeek Shakes Global Tech Market, Triggers $1 Trillion Loss for Western Giants
The rapid rise of Chinese artificial intelligence company DeepSeek, which has demonstrated superior efficiency and cost-effectiveness compared to OpenAI’s ChatGPT, has sent shockwaves through the global tech industry.
According to CNN, the success of DeepSeek has led to a significant decline in the stock prices of major Western tech companies, wiping out a staggering $1 trillion in market value in a single day.
Nvidia, a leading supplier of AI chips, saw its shares drop by 12%. Other tech giants, including Meta (parent company of Facebook) and Alphabet (Google’s parent company), also experienced sharp declines. The ripple effect extended to Nvidia’s competitors, such as Marvell, Broadcom, Micron, and TSMC, all of which reported substantial losses. The downturn also impacted companies involved in data center operations, including Oracle, Vertiv, Constellation, and NuScale.
