The NASDAQ index, freighted with companies that have U.S. AI exposure, was down at the close a little over 3 percent today. From Tyler Durden at zerohedgeocm:
There is only one topic on traders’ minds this morning that threatens to upend the multi-year AI bull trend driving chip stocks to record highs: the (extremely) cheaper Chinese DeepSeek response to OpenAI’s ChatGPT, as noted in an overnight piece titled “Goldman Asks If China’s DeepSeek is AI’s Sputnik Moment.”
Bloomberg’s Mark Cudmore said earlier that the emergence of DeepSeek is terrific news for global growth and productivity. However, he cautioned that the new free, open-source large-language model undermines the massive premium paid for AI research and development by US mega-cap stocks, warning that this development could serve as a catalyst to end 15 years of US stock market exceptionalism.
Perhaps the pin that bursts the AI stock bubble in the US. If so, watch out below…
The buzz over DeepSeek has stoked questions about the tens of billions of money big tech firms have spent on AI models and data centers, along with broader trends to upgrade aging power grids.
Saw one asking if DeepSeek is a CCP psyop.
Techno Triumphalists are too cool for spaces.
AI workers utopia? Shove it commie.
This just in from ZZ Top:
Manic Mechanic (from Deguello)