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The AI tool that crashed the stock market this week
DeepSeek wiped a trillion off the US stock market this week.
Oddly enough, it took six days for the market to react to DeepSeek, which launched on the 22nd.
On its website “DeepSeek-R1 is now live and open source, rivaling OpenAI’s Model o1.” The Chinese startup behind it says DeepSeek is 20–50 times cheaper to use than the latest OpenAI o1 model.
It’s number one in the App Store as I write this. It’s also a big target for cyber attackers, and registrations are limited.
I got in before the attack and played around with it. It doesn’t cost any money to use DeepSeek, so that’s a plus. You can use it like a standard AI agent and search the web. I used it to pull through reasonably accurate predictions about the price of Bitcoin for 2025.
Click the DeepThing (R1) toggle, and it’ll show you the reasoning behind its outputs. I found this useful for improving the quality of my prompts.
DeepSeek has limitations over ChatGPT and Claude. DeepSeek doesn’t support generating images in the app yet, but it’s releasing a model that will…
