China's DeepSeek triggers global tech sell-off (youtube.com)
Number one app on iPhone AppStore, overtaking ChatGPT, caused a selloff in AI stocks, notably Nvidia. Because the Chinese hedgefund built Deepseek GPT does more with less. It's FOSS. People say it has better reasoning, it's answers are better.
The performance of Deepseek and the speculated low-cost is causing a shock among people, Americans, after the weekend it was released. The stock market is full of bright reds and bright greens, which hasn't happened in a while. ‘The DeepSeek sell-off' since the Mag7 have high capEx, but some have doubted this, saying the GPUs they buy would actually be even more used.
CEOs had been telling Andrew at CNBC that they were using ChatGPT and Anthropic to find out what they need to do and use, and then using Meta's opensource GPT to see if they can do it there, because it's free and they would have some control over it.
Will the ‘Jevons paradox’ turn GPTs into a commodity? As cost per unit decreases total spend increases, because usecases for each unit increases.