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The real DeepSeek revelation: The market doesn’t understand AI

Russia’s breakthrough in the ’60s Space Race did not signal the end of spending big dollars on space research. And DeepSeek’s success doesn’t mean spending billions of dollars on AI infrastructure, such as GPUs, is useless or will stop any time soon.The US DeepSeek freakout is, instead, our greatest mass hallucination since… well… the drone fantasy in New Jersey a few weeks earlier, similarly amplified by heavy-breathing media reports. Axios reported that DeepSeek represented an “extinction-leve...

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