- Published on January 27, 2025
- In Global Tech
China’s DeepSeek Excites Scientists, Sparks Global Market Turmoil
A $5 million AI model just wiped off $1 trillion in US and European tech stocks. Let that sink in.
- By Aditi Suresh
Chinese AI startup DeepSeek’s R1, a new open source reasoning model that surpasses OpenAI’s o1 and Google’s Gemini on multiple benchmarks, has sparked a global market turmoil.
The Hangzhou-based startup founded by Liang Wenfeng in 2023, which released the model quietly, shot to No. 1 position on Apple’s App Store, outperforming US tech players’ products.
Andreessen Horowitz cofounder Marc Andreeson describes DeepSeek R1 as AI’s ‘Sputnik moment,’ a turning point when a country feels the need to catch up to another country’s technological or scientific advancements.
Tech giants like Nvidia, Microsoft, and Alphabet saw their stock prices plunge, while the Nasdaq 100 and Europe’s Stoxx 600 tech sub-index bled nearly $1 trillion in market cap
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Aditi Suresh
I hold a degree in political science, and am interested in how AI and online culture intersect. I am at aditi.suresh@analyticsindiamag.com & x.com/aditisuresh12
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