From Our Special Desk: Eastern Chronicle 24×7, The 28th January, 2025.
By Tuesday Nvidia shares were up arround 5% in premarket trading, while oracle and marvell Technology rose 3.4% & 3.6% respectively, while tech shares in Europe pared some of their losses.
Monday’s sell off was prompted by the release of a free AI assistant Launched by China’s DeepSeek last week the start-up said uses less data at a fraction of the cost of services currently available. The garnered attentions worldwide, although scepticism over DeepSeek’s cost claims lingers.
OpenAI CEO Sam Altman called it an ” impressive model”, while U.S. President Trump called, – ” It’s an wake up call for our industries…”.
Altman also told, ” we will also deliver much better models, and it’s legit invigorating to have a new Competitor… ! “, the Head of the AI firm behind chatGPT.,said in a social media platform post.
DeepSeek bursting onto the AI Sense, seemingly out of nowhere, has upended the industries perception, that China was Years behind it’s bigger U.S. rivals.
Prior to Monday’s sell off Nvidia’s shares were trading at nearly 60 times value of it’s earnings, compared with 22 for the entire S&P 500, according to LSEG data.
DeepSeek is a Chainese start-up launch it’s Latest AI Models, which it says on a par or far better than industry-leading models in United States at a fraction of the cost, it threatening to Upset the Technology World Order.
DeepSeek AI assistant, powdered by DeepSeek-V3 has overtaken rival chatGPT to become the top rated free application available on Apple’s app store in United States.
