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Chinese OpenAI competitor DeepSeek was released on January 20 but didn't catch the world's attention until this past week when it took economic markets by storm, slashing AI stocks and deepening a sell-off for many AI coins. Trump also commented on DeepSeek's rapid success noting this should be a "wake-up" call for U.S.-based AI companies. Investment analysts see the sell-off of AI stocks as an overreaction, but how seriously should DeepSeek be taken?
Anyone who thinks DeepSeek just came out of nowhere should see this graph.
For each model on this graph, weights, code, and detailed papers were released.
This is a team with a strong track record and has been working hard for a while. They didn't come out of nowhere. pic.twitter.com/OOYmobDLr9
To not so many people's surprise, the Fed decided to leave interest rates as is this week, despite Donald Trump's wishes, who said in the past that he will "demand that interest rates drop immediately." With unemployment near historic lows and the inflation rate on the rise due to some of Trump's economic policies, the Fed appears to want to proceed cautiously. Powell commented on the current state of the U.S. economy, saying it's "in quite a good place." Analysts are forecasting that the Fed will either not cut rates for the rest of the year or there will be a single cut in 2025.
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