The day DeepSeek turned tech and Wall Street upside down

Last week DeepSeek released an AI model that appeared to rival a cutting-edge counterpart from US firm OpenAI. (Image: Getty)

The Wall Street Journal

Wed, 29 Jan 2025

By Gunjan Banerji, Asa Fitch and Karen Langley For two years, markets’ belief that the rise of artificial intelligence (AI) would usher in a new era of productivity growth has fuelled trillions of dollars in stock-market gains. Nvidia, the maker of the computer chips at the heart of the AI boom, has been in the vanguard of this advance. Wall Street has perceived the company to have an almost unbreachable defence against competition with its offerings of high-tech chips. The company’s rapid growth and windfall profit h...

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