We are supposed to believe 'rivals'? When deep seek came out, the press (and many in the tech community) believed the hype with no proof. When it finally came out that the initial claims were false, everybody just moved on.
What actually happened was that Nvidia stock crashed so that the Chinese firm that built Deep Seek (interestingly enough, an HFT firm) could buy the the dip and make millions.
It's not just Chinese EVs affecting the stock though, the CEO of Tesla has likely destroyed a huge amount of value by simply being a repugnant person loud and publicly, and the culture of Tesla customer service and the fact that people share negative stories online has destroyed an equal amount of value.
Claims were overhyped by the media, but were the actual deepseek claims false though?
Huggingface and universities have replicated the deepseek chain of thought training on top of llama for very cheap, and the openai pricing for o3-mini shows how cheap that model is vs the original o1.
Not to say that I buy this EV hype, which is suspiciously timed with teslas weakening position.
What actually happened was that Nvidia stock crashed so that the Chinese firm that built Deep Seek (interestingly enough, an HFT firm) could buy the the dip and make millions.
Most likely what's happening here.