Hey look a surprise Bitcoin sale!

It's a blood bath out there today.

As I post this:

- NVIDIA shares dropping like a stone. Last down over 16%.

(NVIDIA has erased more than -$600 BILLION of market cap today.)

- Microsoft almost down 4%

- Google almost 3%

- Taiwan Semi Conductor down 14%

- Oracle down almost 13%

Not everyone is down tho...

- META up 1.46% and Apple up 2.25%

The only two in the bunch. Both of whom have focused on open source / local AI.

It's all in reaction to DeepSeek exposing how much waste has been going into US AI projects.

DeepSeek is ~96% CHEAPER than ChatGPT.

- Cost of OpenAI o1: $60.00 per 1M output tokens

- Cost of DeepSeek R1: $2.19 per 1M output tokens

And, again DeepSeek R1 is MIT Licensed.

Total panic at the tech companies and the wider market today. And they should be. I have been trying out DeepSeek R1, locally on my LAPTOP - and it works great. And fast. This is a win for open-source.