Why the DeepSeek breakthrough is actually a good thing
Your superannuation fund may have taken a hit in the short term today. But in the long term, all of us will profit from the AI race, not just the tech billionaires.
Nvidia is the company selling the shovels for the AI revolution.
On Monday, the company’s shares registered the largest fall in value in the history of the US stock market. The company’s share price fell 17 per cent as over half a trillion dollars in market cap disappeared into thin air. As a result, Nvidia is no longer the most valuable company in the US, moving down now to third place behind Apple and Microsoft.
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Toby Walsh is the chief scientist at the AI Institute at the University of New South Wales.
