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DeepSeek Rattles Wall Street With Claims of Cheaper AI Breakthroughs
Chinese AI startup DeepSeek is challenging U.S. tech giants with claims it can deliver performance comparable to leading AI models at a fraction of the cost, sparking debate among Wall Street analysts about the industry's massive spending plans. While Jefferies warns that DeepSeek's efficient approa...
While Jefferies warns that DeepSeek's efficient approach "punctures some of the capex euphoria" following Meta and Microsoft's $60 billion commitments this year, Citi questions whether such results were achieved without advanced GPUs.Goldman Sachs suggests the development could reshape competition by lowering barriers to entry for startups. Founded in 2023 by former hedge fund executive Liang Wenfeng, DeepSeek's open-source models have gained traction with its mobile app topping charts across major markets. DeepSeek's latest AI model had sparked over $1 trillion rout in US and European technology stocks Monday, before even the U.S. market opened.
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