OpenAI CEO Sam Altman acknowledges the impressive capabilities of DeepSeek, a Chinese AI model that offers significant cost advantages over OpenAI's offerings. While praising DeepSeek's performance, Altman emphasizes OpenAI's belief in the importance of computing power for AI advancement. DeepSeek's emergence has triggered concerns about the dominance of Western AI companies and caused a significant drop in US tech stocks.
READ MORE:. READ MORE:OpenAI CEO Sam Altman has broken his silence on the new rival to ChatGPT, hailing the Chinese competitor as 'impressive' while also touting his product's alleged superiority.
Fears of upheaval in the AI gold rush rocked Wall Street on Monday following the emergence of DeepSeek, sparking panic that the West could fall behind in the AI arms race. OpenAI CEO Sam Altman has broken his silence on the new rival to ChatGPT, hailing Chinese competitor DeepSake as 'impressive' while also touting his product's alleged superiority
'But mostly we are excited to continue to execute on our research roadmap and believe more compute is more important now than ever before to succeed at our mission,' Altman added. AL chipmaker Nvidia, which has benefitted from the AI frenzy over the last eighteen months, rose 4.8 per cent in premarket trading Tuesday - a day after $593 billion was wiped off its market value in the biggest single-session loss for any company.
AL chipmaker Nvidia, which has benefitted from the AI frenzy over the last eighteen months, rose 4.8 per cent in premarket trading Tuesday - a day after $593 billion was wiped off its market value in the biggest single-session loss for any company The damage was focused on AI-related stocks, while the rest of the market held up much better. The Dow Jones Industrial Average rose 0.7 per cent to 44,713.58, and the majority of US stocks climbed.
DeepSeek's advances have raised doubts about whether the US will retain its lead in the global race of advancing AI technology. A small group of seven such companies has become so dominant that they alone accounted for more than half the S&P 500's total return last year, according to S&P Dow Jones Indices. They include Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia and Tesla.
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