DeepSeek’s big promises to dominate global tech and finance fade

Nearly a year ago, DeepSeek blew through global markets and triggered instant fear across tech and crypto desks. A little-known Chinese AI lab dropped a model that forced traders to rethink U.S. control of advanced AI. Stocks tanked fast. Panic trading took over. The idea that China could match top-tier AI with cheaper chips hit hard and fast. The fallout was brutal. Nvidia sank 17% in one session and wiped out almost $600 billion in value. Broadcom fell the same amount. ASML slid 7% in a single day. Fast forward eleven months and the picture flipped. Nvidia pushed past a $5 trillion valuation in October. Broadcom climbed 49% across 2025. ASML gained 36%. The market moved on. Markets price the shock and then move on The chaos started after DeepSeek released V3 in late 2024. The lab said the open-source model ran on weaker chips and cost far less than...

https://www.cryptopolitan.com/what-happened-to-deepseeks-big-promises/