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Evening Standard

Technology

Andrew Williams

Did DeepSeek cause crypto to plunge?

DeepSeek United States Bitcoin OpenAI Nvidia

A sharp fall in the value of bitcoins has been attributed to DeepSeek AI, which is also linked to a fall in tech stocks.

This market impact is largely thanks to DeepSeek being perceived as highly disruptive in its ability to operate at lower costs, with much lower power overheads, than OpenAI’s ChatGPT and other generative AI models.

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