DeepSeek sent shockwaves through Silicon Valley last week as it launched a free AI Assistant, which it says uses less data at a fraction of the cost of current models on the market. Big tech firms are in panic mode as $1trillion is wiped from stocks hours after Chinese startup DeepSeek triggered market meltdown with its new Artificial Intelligence. Shares in Nvidia fell by a whopping 10 per cent and Oracle did not fair much better at 8 per cent, while AI data analytics company Palantir lost 7 per cent in pre-market trading. This AI overtook its rival ChatGPT to become the most-downloaded free application available on the Apple Store in the US on Monday. What is your take on AI startups competition ?
