Computerworld January 29, 2025
The arrival of DeepSeek blows up delusions of AI tech wealth.
Hands up! Who remembers the dot.com bust?
I do. It was March 10, 2000. The NASDAQ Composite index peaked at 5,048.62 points. That doesn’t sound like much today, but it was up 800% from 1995. Then people started to get nervous about the true value of the dot.com businesses driving the market, interest rates started to rise, and by October 2002, the NASDAQ had fallen 78% from its peak.
We’re not even a month into 2025, and the new Chinese AI program DeepSeek this week sparked Nvidia’s $465 billion rout, the biggest single-day drop in US stock market history.
This is just the beginning. It’s not...
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