As attention on Chinese startup DeepSeek and its artificial-intelligence model led to a $1 trillion wipeout in the U.S. stock market on Monday, shares of bitcoin miners with exposure to artificial intelligence also tumbled.
Much of the concern draws from a possible overvaluation in U.S. tech companies as DeepSeek’s latest AI model is significantly cheaper to produce and was built using open-source technology that is easy to access.
Bittensor (TAO) price peaked $484 at for Wednesday, defying crypto market volatility with a 37% increase over the last seven days. On-chain data suggests discussions around China’s Deepseek and OpenAI may have driven TAO’s strong performance.
The price of Bitcoin dipped below $98,000 after DeepSeek, a Chinese AI startup, threw a wrench into Big Tech's week of key earnings.
· 2d · on MSN
Bitcoin tumbles amid broader market jitters over Chinese AI app DeepSeek
DeepSeek Shakes Market: Bitcoin, Altcoins, and AI Coins Plunge Amid AI Startup Surge
What is DeepSeek, the Chinese AI app challenging OpenAI and Silicon Valley?
DeepSeek is a new artificial intelligence chatbot that’s sending shock waves through Wall Street, Silicon Valley and Washington. The app, name after the Chinese start-up that built it, rocketed to the top of Apple’s App Store in the United States over the weekend.
Bitcoin added 4% in the past 24 hours to trade around $103,000 in European morning hours, alleviating some of Monday’s losses.
President Donald Trump on Tuesday announced that three leading companies would make a large investment in artificial intelligence infrastructure.
OpenAI says Chinese startups, such as DeepSeek, are "constantly" cribbing the tech of leading AI companies in the US to develop their own models. OpenAI's IP theft concerns come as the company deals with a raft of lawsuits accusing it of violating copyright protections.
Nasdaq tumbles as Nvidia leads tech selloff. DeepSeek’s low-cost AI shakes US dominance, impacting Bitcoin, cryptos, and chip stocks. Click for analysis.
Robinhood CEO and co-founder Vladimir Tenev made a case for the tokenization of private stocks on Tuesday, encouraging policymakers to explore the untapped potential of blockchains in the U.S. capital markets.
DeepSeek's development cost was reportedly under $6 million, raising concerns about the competitive edge of US tech firms and future capex on AI LLMs. WGMI has significant exposure to Bitcoin mining companies that are either already growing or planning to grow revenue from AI/HPC services.
Donald Trump will be the first president to fully embrace digital currencies — and he’s already anointed his crypto princes
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