Nvidia’s rally shows DeepSeek fears were unfounded a year later

(Bloomberg) — A year ago, the Chinese startup DeepSeek freaked out the stock market with the idea that developing artificial intelligence was much easier and cheaper than everyone imagined. But 12 months later, that’s turned out to be largely a mirage so far. DeepSeek erased a record $589 billion from Nvidia Corp. (NVDA)’s market value in one day after the company revealed an AI model thought to be comparable to those of OpenAI and Meta Platforms Inc. and developed at a fraction of the cost. Nvidia’s doub ...