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China's DeepSeek AI shakes industry and dents America's swagger
The app spooked the markets as well as the bullish sense of American superiority in AI development.
It was just last week, after all, that OpenAI's Sam Altman and Oracle's Larry Ellison joined President Donald Trump for a news conference that really could have been a press release. The US seemed to think its abundant data centers and control over the highest-end chips gave it a commanding lead in AI, despite China's dominance in rare-earth metals and engineering talent. But WIRED reports that for years, DeepSeek founder Liang Wenfung's hedge fund High-Flyer has been stockpiling the chips that form the backbone of AI – known as GPUs, or graphics processing units.
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