It doesn’t take an expert in computing or artificial intelligence to see that America’s tech companies, energy companies, and the people who invest in them are close to panicking over the surprise drop of a Chinese AI that seems to rival and looks to exceed the performance of other AIs on the market.
The markets are spooked so much that a trillion or so in market value evaporated due to the release of one bit of software.
Why?
A Chinese artificial intelligence company called DeepSeek is grabbing America’s attention — and sending a shock wave through Wall Street — due to its new tech, which some experts say rivals that of OpenAI’s ChatGPT.
DeepSeek is also catching investors off guard because of the low development costs for its AI app, which Wedbush Securities analyst Dan Ives pegged at only $6 million. By comparison, OpenAI, Google and other major…
