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Nvidia drops $600B off its market cap amid the rise of DeepSeek
DeepSeek's R1 model shows that AI companies don't need advanced AI chips to build good models, that's not good for companies like Nvidia.
R1’s functionality and accuracy compared to its U.S. counterparts, despite using fewer resources and less compute power, seems like a win for the overall AI industry. “DeepSeek is an excellent AI advancement and a perfect example of Test Time Scaling,” an Nvidia spokesperson told TechCrunch over email. At the time, Nvidia said that the executive order was “unprecedented and misguided” and that it would “derail” innovation and economic growth worldwide.
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