The AI industry is set to lose more than $1 trillion — yes, that’s with a “t” — after an open-source Chinese AI company called DeepSeek’s ChatGPT competitor skyrocketed in popularity over the weekend, sparking fears that the massive hype surrounding the tech was unwarranted.
It’s been a bloodbath for Silicon Valley, with AI chipmaker Nvidia wiping out over half a trillion in market value alone, possibly the biggest one-day market loss for a single company in history.
Axios called…
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https://futurism.com/trump-embraced-ai-exploded-deepseek