PremiumDeepSeek Sparks Chaos Across Markets; Bloodbath In Big-Tech, Bitcoin, & Black Gold
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A solid day for US macro data - Chicago Fed National Activity Index surged, new home sales rose for second straight year, and Dallas Fed manufacturing soared most since COVID lockdown - but absolutely NONE of that mattered as DeepSeek's revelation of 'Cheap AI' prompted panic-selling across every market.
“Concerns have immediately emerged that it could be a disruptor to the current AI business model, which relies on high end chips and extensive computing power and hence energy,” Jefferies analysts said in a note to clients.
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