
Billions of dollars in value were lost in the tech market, which also includes the Chinese tech market, after a Chinese-owned tech company released a powerful AI reasoning model called DeepSeek that is far cheaper and a little more powerful than current AI models like ChatGPT. The world’s richest 500 people lost over $100 billion after the market responded to the stunning news.
Marc Andreesen, who created Netscape Navigator, called the release “AI’s Sputnik moment,” referring to the shock in America when, in 1959, the Soviet Union successfully launched a space satellite called Sputnik at a fraction of the cost of then-current U.S. programs. Donald Trump said of the “Sputnik moment,” that it “should be a wake-up call for our industries that we need to be laser focused on competing to win.”
DeepSeek AI Triggers A Collective Loss of $94 Billion In Wealth Of Tech Billionaires, Mark Zuckerberg And Jeff – Times Now
Source Link
Excerpt:
DeepSeek AI has taken the tech industry by storm with its cost and resource-effective advanced-language model. DeepSeek engineers claim that their open-source language learning model utilises fewer and cheaper chips to perform the same tasks as any other AI model out there at a ‘shoestring cost’ of $5.6 million. This has led many investors to rethink why a significant capital investment is required to build the strongest models when a competent AI model has been developed at a fraction of development costs.
DeepSeek AI is reportedly outperforming ChatGPT in areas such as mathematics and coding, positioning itself as a new competent AI model. The Chinese AI startup quickly emerged as the no.1 free app on the iOS app store, emerging as a free alternative against ChatGPT. DeepSeek performs all the functions of an open-source AI language learning model by utilising just 2000 chips, DeepSeek engineers reported. Whereas ChatGPT required 10,000 Nvidia GPUs to process its training data.
DeepSeek AI was founded in 2023, by Liang Wenfeng. Headquartered in Hangzhou, China, this new AI model is set to revolutionise the tech industry as it has successfully developed artificial general intelligence at a comparatively low cost…
As per a report by Bloomberg, billionaires tied to artificial intelligence suffered losses. Huang’s wealth decreased by $20.1 billion, a 20% decline, while Oracle Corp. co-founder Larry Ellison’s $22.6 billion loss was greater in absolute figures, yet only accounted for 12% of his total fortune, as per the Bloomberg Billionaires Index. Michael Dell of Dell Inc. saw a $13 billion decrease in his wealth, while Binance Holdings Ltd. co-founder Changpeng “CZ” Zhao lost $12.1 billion.