On Monday, the stock market tanked, seemingly in reaction to the emergence of DeepSeek, an open source AI model developed in China. Nvidia, the semiconductor giant that has been the largest winner of the AI boom, erased $589 billion in market cap, for the biggest one-day wipeout in US stock-market history. Other chipmakers and big tech giants also swooned. So how did DeepSeek do it? Is it a big threat to the American AI giants like OpenAI and Anthropic? What does this say about export restrictions on US chips? On this special emergency session of the podcast, we spoke with Zvi Mowshowitz, an AI expert who authors the excellent Substack, Don’t Worry About the Vase. He answered all our questions and more to help understand what it means.

Read more: 
AI-Fueled Stock Rally Dealt $1 Trillion Blow by Chinese Upstart
World’s Richest People Lose $108 Billion After DeepSeek Selloff

Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox — now delivered every weekday — plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots

On Monday, the stock market tanked, seemingly in reaction to the emergence of DeepSeek, an open source AI model developed in China. Nvidia, the semiconductor giant that has been the largest winner of the AI boom, erased $589 billion in market cap, for the <a href="https://bloom.bg/4gfyRU2">biggest one-day wipeout in US stock-market history</a>. Other chipmakers and big tech giants also swooned. So how did DeepSeek do it? Is it a big threat to the American AI giants like OpenAI and Anthropic? What does this say about export restrictions on US chips? On this special emergency session of the podcast, we spoke with Zvi Mowshowitz, an AI expert who authors the excellent Substack, Don&rsquo;t Worry About the Vase. He answered all our questions and more to help understand what it means.
Read more:&nbsp; <a href="https://bloom.bg/4hdIiV7">AI-Fueled Stock Rally Dealt $1 Trillion Blow by Chinese Upstart</a> <a href="https://bloom.bg/3PQAFb8">World&rsquo;s Richest People Lose $108 Billion After DeepSeek Selloff</a>
Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox &mdash; now delivered every weekday &mdash; plus unlimited access to the site and app. Subscribe at&nbsp;<a href="https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast" data-destination="https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast">bloomberg.com/subscriptions/oddlots</a>
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Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Tuesday and Thursday for interviews with the most interesting minds in finance, economics and markets.

Odd Lots

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday. 

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday.

The AI Model That Tanked the Stock Market

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/cb65e3d3-26e6-48b7-be78-b27201818b4d/transcript

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