China's DeepSeek triggers global tech sell-off

This panel discussion centers on the disruptive impact of DeepSeek, a new AI model developed by a Chinese hedge fund manager. The hosts initially discuss DeepSeek's superior efficiency and performance compared to existing models, noting its high ranking on app stores and the resulting negative impact on US tech stocks like NVIDIA. The conversation then shifts to the implications of DeepSeek's open-source nature and the potential challenges it poses to US AI dominance, drawing parallels to the Sputnik moment. Finally, the hosts debate the long-term financial implications for companies like Microsoft, considering the potential for reduced investment in AI development due to DeepSeek's cost-effectiveness and accessibility. The discussion highlights the Jevons Paradox, where increased efficiency leads to increased overall consumption, suggesting that even with more efficient AI, demand may remain high.