2 Trillion dollars in U.S. Stock market cap erased in a day by DeepSeek, which was released only a day after the US announced a 500 billion dollar investment in AI.
DeepSeek only invested 5.6 million dollars in computing power.
I remember reading about how the US was funding a ton of solar panel manufacturing, then when China made them cheaper than the US could, dragged the world back to oil. I wonder if the US will try the same trick here.