650
‘Sputnik moment’: $1tn wiped off US stocks after Chinese firm unveils AI chatbot
(www.theguardian.com)
this post was submitted on 27 Jan 2025
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Technology
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Basically US company's involved in AI have been grossly over valued for the last few years due to having a sudo monopoly over AI tech (companies like open ai who make chat gpt and nvidia who make graphics cards used to run ai models)
Deep seek (Chinese company) just released a free, open source version of chat gpt that cost a fraction of the price to train (setup) which has caused the US stock valuations to drop as investors are realising the US isn't the only global player, and isn't nearly as far ahead as previously thought.
Nvidia is losing value as it was previously believed that top of the line graphics cards were required for ai, but turns out they are not. Nvidia have geared their company strongly towards providing for ai in recent times.
*pseudo
Sudo is a linux command-line tool.
They probably used voice to text
Thanks.
woohoo for Nvidia losing, fuck those cunts
I mean, Nvidia isn't really out, they went from making a relatively niche tech product to the world's most in-demand tech product by being in the right place at the right time with AI and crypto. At worst they will be back where they started