Chinese AI Firms That Could Equal DeepSeek’s Impact
The unveiling of DeepSeek’s AI model, which rivals OpenAI’s o1 while being significantly more cost-effective, has sent shockwaves through the tech and investment communities. Nvidia, a leader in AI and microchip technology, experienced a record-breaking single-day loss on Wall Street, shedding over $500 billion in market cap. The market reacted strongly as investors feared that DeepSeek’s breakthrough could disrupt the dominance of US-based AI companies. Liang Wenfeng, the company’s founder, has been celebrated as a national figure in China, even earning an invitation to a symposium led by Premier Li Qiang. China’s rapid progress in AI, narrowing the gap with…