US President Trump has described the emergence of Chinese AI company DeepSeek as a wake-up call for the US tech industry, causing major tech firms like Nvidia to suffer significant losses in market value. DeepSeek’s AI model, developed at a fraction of the cost of its rivals, has raised concerns about America’s AI dominance and the scale of investments by US firms. Despite skepticism from some, including Elon Musk, DeepSeek’s lower cost model has the potential to accelerate AI adoption in businesses and expand the market faster.
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