Jim Cramer Squashes DeepSeek Hype, Warns Of AI 'Sputnik Moment' Amid Investor Frenzy And US-China 'Inferiority Complex' - Broadcom (NASDAQ:AVGO), Micron Technology (NASDAQ:MU)
- The US market experienced a significant decline, with over $1 trillion lost due to fears over a new Chinese AI app called DeepSeek, which outperformed ChatGPT in benchmarks.
- Vivek Ramaswamy described the market slump as a 'Sputnik moment', emphasizing the need for awareness rather than panic.
- Nvidia's stock fell 17%, marking the largest single-day loss in market cap history, while Apple's market cap rose to $3.45 trillion.
- Analysts are concerned that DeepSeek's emergence may prompt US companies to reassess AI spending and technology upgrades.
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Coverage Details
Total News Sources0
Leaning Left2Leaning Right3Center3Last UpdatedBias Distribution38% Center, 38% Right
Bias Distribution
- 38% of the sources are Center, 38% of the sources lean Right
38% Right
L 25%
C 37%
R 38%
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