DeepSeek changes the narrative in the middle of the gold rush
The AI arms race, spurred by euphoric markets, has been based on the experience of the Magnificent Seven: in technology, scale always wins, and the winner of the race takes all the prizes
Financial markets are the largest and most complex incentive system ever devised by humankind. Sometimes brutally efficient, sometimes brutally dysfunctional, and almost always a bit of both. Ever since OpenAI launched the first version of ChatGPT on November 30, 2022, and the whole world watched as a machine appeared to think (though it’s more like searching and drafting), the financial music has been played in one key: artificial intelligence, the next promised land of finance, the technology that will (supposedly) change the world. Like the steam engine, the internet or computing. Who would want to stay on the sidelines?
