DeepSeek’s catastrophic impact on AI tech firms looks like it’s slowing down. After dropping heavily early last week, the S&P 500 has made a fantastic recovery and now sits very close to its all-time highs.
The rebound was largely due to Big Tech stepping up, recording top earnings, and most importantly, reassuring investors that the US is still a leader in AI technology.
Apart from Sam Altman, who reposed his faith in OpenAI, Meta and Zuckerberg, too, claimed that they’ll continue investing in AI technology. Meta’s stock jumped 6.4% last week. Even Microsoft, despite its issues scaling AI tech, looked confident as it confirmed continued investments in AI.
All in all, DeepSeek might just be a much-needed boost for US AI firms to step up and do better.
This also happens to be terrific news for AI projects in the crypto space, who will not only benefit from a dog fight between AI companies worldwide but also from the crypto economy’s overall bullish outlook. ..
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