Five hundred of the world's wealthiest individuals lost a combined $108 billion following the launch of DeepSeek's AI chatbot, which disrupted the U.S. stock market. Major tech figures like Jensen Huang and Larry Ellison suffered significant losses. DeepSeek's new app, R1, claims to rival competitors like ChatGPT while utilizing fewer and more affordable resources. In contrast to its U.S. counterpart OpenAI, which is tied to a $500 billion government project, DeepSeek's app surged in popularity, quickly securing the top position in free app stores despite operational limits due to overwhelming demand.
Five hundred of the world's richest people collectively lost $108 billion due to the impact of DeepSeek on the U.S. stock market.
DeepSeek's R1 app has rivaled competitors like ChatGPT by using fewer and cheaper resources, challenging the notion of needing high-grade chips for AI.
Despite the technology restrictions and a lower budget, DeepSeek outperformed OpenAI in app popularity while OpenAI participates in a major government project.
The overwhelming response to DeepSeek’s app led to outages and limited sign-ups, showcasing significant public interest and engagement with the new technology.
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