What? Deep Seek R1: China's Low-Cost Model Shakes Wall Street with billion-dollar losses
What? The latest intelligent model, Deep Seek R1, originating from China, has caused a seismic shift on Wall Street, resulting in billions of losses in technology and energy supplies. NVIDIA's shares decreased by 18%, removing $600 billion from market value, marking the biggest decline in the history of the US stock market.
Deep Seek is based on a low-cost approach compared to the models of American tech giants, but it has surpassed OpenAI's ChatGPT on the app store. While companies like OpenAI, Meta, Google and Microsoft have invested billions of dollars, Deep Seek has managed to deliver exceptional results with limited resources.
What? As the competition intensifies, NVIDIA's market value has fallen to $2.9 trillion, and shares of Oracle, Palantir, Alphabet, and Microsoft have also decreased. Meanwhile, energy companies such as Siemens and GE Vern ova have seen their stocks fall by more than 20%. These changes reflect a radical shift in the technology market, with total losses up to a trillion dollars.
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