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"China’s DeepSeek Challenges Silicon Valley Giants, Shakes Global Tech Markets"
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"DeepSeek's model, launched in December 2024, has already surpassed popular AI applications like ChatGPT in terms of downloads in countries such as China, the U.S., and others. The rapid rise of DeepSeek has caused a market shake-up, with tech giants like Nvidia losing nearly $500 billion in market value. The success of DeepSeek challenges American tech companies' business models, which typically charge for access to advanced AI tools."
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