Top 500 Richest Lose £86.7B After DeepSeek AI Chatbot Launch Triggers AI Market Selloff
China’s DeepSeek AI is leading investors to question Silicon Valley’s dominance in AI. The Hangzhou-based company supposedly spent only £4.49 million to develop the chatbot, compared to billions spent by leading US AI companies. The DeepSeek AI chatbot challenges Silicon Valley’s narrative that high capital spending is necessary to build the most advanced AI models. … Read more