Chinese DeepSeek AI model has investors in NVIDIA and other tech stocks spooked
DeepSeek AI is currently the number one free app on Apple's App Store.
The AI race has taken yet another twist with the emergence of DeepSeek AI, an open-source LLM that’s free to use on PCs and mobile devices. The company behind DeepSeek says it developed the AI assistant in just two months with a budget of $6 million. Since its release, AI powerhouse NVIDIA has seen its stock drop by 17%.
DeepSeek AI has quickly skyrocketed in popularity since being released to the public, surpassing ChatGPT to become the most popular free app on Apple’s App Store, and the number two free productivity app on the Google Play Store.
Source: NVIDIA
No company has financially benefited more from the tech industry’s AI boom more than NVIDIA. While the GPU manufacturer has enjoyed record success over multiple quarters, the company’s stock has fallen 17% as DeepSeek continues to mount momentum and capture the attention of audiences.
The team behind DeepSeek AI claim to have developed the LLM in 2 months on a (relatively) modest budget of $6 million. With the tech industry collectively turning its attention to DeepSeek, you can expect to read future updates here on Shacknews.
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replyDonovan Erskine posted a new article, Chinese DeepSeek AI model has investors in NVIDIA and other tech stocks spooked
