Deepseek is a clear disruptor. If it’s outperforming OpenAI at a fraction of the cost, the implications for the Nasdaq are huge.

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The dominance of US tech giants is in question. With reduced-capability chips outperforming massive investments, the bubble of overinflated valuations in big tech could burst. The market might soon be forced to recalibrate, adjusting to a reality where smaller, more agile companies can match or even surpass the performance of the giants, without the endless cash burn. A reckoning for the Nasdaq could be on the horizon.

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