AI-Fueled Stock Rally Dealt $1 Trillion Blow by Chinese Upstart
finance.yahoo.com
(Bloomberg) -- For the better part of two years, artificial intelligence technologies have been a nonstop gift for US equities investors. The Nasdaq 100 Index rose 92% from the start of 2023, adding more than $14 trillion in value and minting billions for a handful of tech executives and founders.Most Read from BloombergTexas HOA Charged With Discrimination for Banning Section 8 RentersWhat Happened to Hanging Out on the Street?Budapest Mayor Aims to Block Orban’s Plans to Build ‘Mini Dubai’Vien

Chinese artificial intelligence startup DeepSeek’s latest AI model sparked a $1 trillion rout in US and European technology stocks, as investors questioned bloated valuations for some of America’s biggest companies.

  • sunzu2@thebrainbin.org
    99·
    3 days ago

    Tech enjoyers spent the weekend fucking with these model to prove that chinaman sucks, only to realize chinaman did a great job…

    Gonna be hard justifying them salaries 🐸 when a bunch scrappy chinese wage slaves can do this eyyy?

    And before you come in

    chinaman is lying how much they spent on training, rheee

    Sure, maybe, but they also trained in prior gen hardware and they apparently outsoftwared the American grifters and their 500k a pop wage slaves

    500b pledged by US private capital, but hey daddy sam can we pretty please have some more cash, can you please build us electricity for this🤡

    Pathetic…

    • Fizz@lemmy.nz
      51·
      3 days ago

      Exactly. Anyone who still thinks China is not on the cutting edge is not paying attention. Even with all the restrictions they’ve been pushing crazy technical advancements the last 5 years.