China’s Cut-Price AI Model Shocks Global Markets, Coincides With Boost to Chinese Shares
The release of a cheaper, less resource-intensive AI model, known as R1, from China-based tech firm, DeepSeek, has sent shockwaves through global stock markets. On news of the launch the tech-heavy NASDAQ fell 3% on the day yesterday, losing around US$1 trillion in value, with NVIDIA alone falling by 17%…
bubmagJanuary 28, 2025