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deforestgump [comrade/them]@hexbear.net to news@hexbear.netEnglish ·
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7 months ago

DeepSeek Buzz Puts Tech Stocks on Track for $1 Trillion Wipeout

www.bloomberg.com

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  • cross-posted to:
  • worldnews@lemmit.online
  • technology@lemmit.online
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DeepSeek Buzz Puts Tech Stocks on Track for $1 Trillion Wipeout

www.bloomberg.com

deforestgump [comrade/them]@hexbear.net to news@hexbear.netEnglish ·
edit-2
7 months ago
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  • cross-posted to:
  • worldnews@lemmit.online
  • technology@lemmit.online
AI-Fueled Stock Rally Dealt $1 Trillion Blow by Chinese Upstart
www.bloomberg.com
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For the better part of two years, artificial intelligence technologies have been a nonstop gift for US equities investors. The Nasdaq 100 Index rose 92% from the start of 2023, adding more than $14 trillion in value and minting billions for a handful of tech executives and founders.

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  • JohnBrownsBawdy [none/use name]@hexbear.net
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    7 months ago

    we will ban you from using the latest chips

    ok then I’ll work on optimizing my code so it runs on old tech

    that’s not fair.

    • jack [he/him, comrade/them]@hexbear.net
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      7 months ago

      this illegally imposed restraint on China’s development will surely be the one they can’t overcome

      • Hohsia [any]@hexbear.net
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        7 months ago

        Well if the US isn’t going the legal route now something tells me they’ll do whatever to keep power side-eye-1

    • piggy [they/them]@hexbear.net
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      7 months ago

      The reason closed source models are unoptimized is a way to mislead competitors and attempt to move the competition from one of technological prowess to one of courting investment.

  • WhatDoYouMeanPodcast [comrade/them]@hexbear.net
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    7 months ago

    -1 trillion in tech -> a bunch of lemon companies go out of business -> commercial real estate get like 3% cheaper -> real estate market collapse -> Trump tries to loot some country in a war -> thwarted by coalition -> can’t afford military anymore -> USD loses its global reserve status -> -1 trillion in global privilege -> collapse of everything else American -> Israel can only be sent hundreds of millions in arms instead of billions -> dissolution of the entity

    Funny enough, bullish for bitcoin

    • jack [he/him, comrade/them]@hexbear.net
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      7 months ago

      inshallah-script

    • rivan@lemm.ee
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      7 months ago

      “This is good for Bitcoin, actually”

    • MolotovHalfEmpty [he/him]@hexbear.net
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      7 months ago

      lathe-of-heaven (Please!)

  • marxisthayaca [he/him,they/them]@hexbear.net
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    7 months ago

    I thank computer science and communism.

  • marxisthayaca [he/him,they/them]@hexbear.net
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    7 months ago

    Get fucked lol. Nobody wants to pay $20 for AI slop.

  • DragonBallZinn [he/him, they/them]@hexbear.net
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    7 months ago

    Inb4 massive government stock bailout.

  • Cimbazarov [none/use name]@hexbear.net
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    7 months ago

    Why are free market enthusiasts panicking? I thought competition was supposed to bring about the best results? Or was that just a load of bullshit to let domestic monopolies control everything?

    • Enjoyer_of_Games [comrade/them, he/him]@hexbear.net
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      7 months ago

      they are panicking because they backed the wrong horses

  • Torenico [he/him]@hexbear.net
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    7 months ago

    What does this mean to me, a overexploited proletarian living in the global south?

    (Like for real)

    • blame [they/them]@hexbear.net
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      7 months ago

      not much probably unless your job is combing through datasets to remove CSAM.

      • Enjoyer_of_Games [comrade/them, he/him]@hexbear.net
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        7 months ago

        removing CSAM is one of the major hurdles for operating fediverse servers so this could be good for lemmy as a whole

    • OhNoMoreLemmy@lemmy.ml
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      7 months ago

      The new LLMs are smaller and more likely to run on hardware available in your country. After all they were developed despite the US chip embargo.

      This also means the US might slow down on the new power stations and resulting climate change, but probably not.

      Not sure the new tech will actually be useful though.

  • chungusamonugs [he/him]@hexbear.net
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    7 months ago

    econony

  • SkingradGuard [he/him, comrade/them]@hexbear.net
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    7 months ago

    Vibes based “economy”

    • LaughingLion [any, any]@hexbear.net
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      7 months ago

      been saying it for decades: the stock market is a measurement of how rich people feel about the economy, nothing more nothing less

    • Philosoraptor [he/him, comrade/them]@hexbear.net
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      7 months ago

      astronaut-1

  • FloridaBoi [he/him]@hexbear.net
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    7 months ago

    owned

  • dkr567 [comrade/them, he/him]@hexbear.net
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    7 months ago

    It’s at 125 per share as of this post (I think it was like 142 before nyse was opened). https://finance.yahoo.com/quote/NVDA/

  • ChairmanSpongebob [he/him]@hexbear.net
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    7 months ago

    should’ve called it “deepsink” as it sinks the US tech giants

    pow

    • johncutting [he/him]@hexbear.net
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      7 months ago

      This photo of panicking traders with tears in their eyes is the only true bit of art that AI has ever produced ``` 1000012806

  • WIIHAPPYFEW [he/him, they/them]@hexbear.net
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    7 months ago

    gets criticized once

  • Enjoyer_of_Games [comrade/them, he/him]@hexbear.net
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    7 months ago

    hexcrab-party

  • tamagotchicowboy [he/him]@hexbear.net
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    7 months ago

    For other AI toys I’m really impressed by Hunyuan3d by Tencent as well, its quite the improvement over Micro$oft’s TRELLIS, been making side money off fiverr with that trinket since I can rig and it can model even on a rx 580.

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