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The Times

DeepSeek shatters beliefs about the cost of AI, leaving US tech giants reeling

  • Written by Michael J. Davern, Professor of Accounting & Business Information Systems, The University of Melbourne

Almost A$1 trillion (US$600 billion) was wiped off the value of artificial intelligence microchip maker Nvidia overnight on Monday, when a little-known Chinese start up, DeepSeek, threatened to upend the US tech market.

While Nvidia suffered the biggest one-day loss in sharemarket history, other tech giants – Microsoft, Alphabet and Amazon,...

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