The story
A Chinese artificial intelligence app called DeepSeek has caught the attention of the global tech industry. It was released on the 20th of January, and has quickly risen to the top of the Apple store’s download charts.
DeepSeek claims the latest model was built using only $5.6 million, whereas ChatGPT’s developer OpenAI spent $5 billion last year alone.
The market value of tech company stocks, like Nvidia, has since fallen dramatically.
News headlines
Why is the AI world freaking out over China’s DeepSeek?
The Japan Times
Nvidia shares sink as Chinese AI app spooks US markets
BBC News
AI Market Shake-Up: Global Giants Tumble As Chinese AI Model DeepSeek Disrupts Markets
Business Today
Key words and phrases
freaking out
losing emotional control
- I freaked out when my favourite actor walked past me in the street.
spook
create a sudden sense of fear or nervousness
- The government’s sudden tax cuts spooked the markets.
shake-up
a change
- The football team kept losing, so the coach decided to have a shake-up of the squad.