Bloomberg Daybreak: US Edition DeepSeek Upends AI Industry; Trump Vows 'Much Bigger' Tariffs
Jan 28, 2025
Discover how DeepSeek is shaking the AI industry, causing a staggering $589 billion loss for NVIDIA. Uncover the impact of this disruption on the market and the insights from tech investors. Meanwhile, Trump vows to implement much larger tariffs than the current 2.5%, promising shockwaves across key sectors. Plus, catch up on the Knicks' stellar playoff performance, marking a thrilling moment in sports.
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DeepSeek's Market Impact
- DeepSeek, a Chinese AI startup, caused a major stock sell-off, impacting NVIDIA and the Nasdaq.
- DeepSeek's low-cost AI model raises concerns about U.S. tech dominance and sparks debate about AI development spending.
Impact on Billionaires
- The DeepSeek sell-off caused the world's 500 richest people to lose a combined $108 billion.
- Billionaires invested in AI, like NVIDIA's CEO Jensen Huang, suffered significant losses.
Reactions to DeepSeek
- OpenAI CEO Sam Altman acknowledged DeepSeek's R1 as an impressive model but expressed confidence in surpassing it.
- Kathy Wood believes DeepSeek demonstrates the decreasing cost of innovation in AI.