DeepSeek is upending AI innovation and investment

Chinese newcomer Deepseek has developed an advanced AI model requiring just millions of dollars in development costs, causing concerns about its security and potentially copying rival Chatgpt.

The news sent US AI leaders reeling, causing them to lose more than $1 trillion in total market value, including nearly $600 billion from chip King Nvidia alone.

The DeepSeek news also raised the possibility that the existing model of AI investment and development might soon be ready for a rethink. Earlier this week, DeepSeek sparked a sell-off of global tech stocks that lost the AI-driven stock rally $1 trillion in value.

OpenAI chief Sam Altman said his high-profile artificial intelligence company is "on the wrong side of history" when it comes to being open about how its technology works.

Altman replied he was in favor of the idea and that it is a topic of discussion inside San Francisco-based OpenAI.

Reference Sources

1. newyorkpost - How DeepSeek is upending AI innovation and investment
2. thejakartapost - TheJakartaPost
3. quartz - DeepSeek rattled Big Tech. Here's what the CEOs of Apple, Meta and Microsoft are saying
4. cnbc - DeepSeek's threat to Nvidia's earnings may not be so serious, Jim Cramer says
5. malaymail - OpenAI chief Sam Altman believes his company is ‘on the wrong side of history’, needs to figure out a different open source strategy

India’s Reliance relaunches Shein in India after 2020 ban

(Source: Shutterstock)

Reliance retail, owned by billionaire Mukesh Ambani, has launched an App in India to sell Fashionwear from China's Shein under a licensing deal, almost five years since Shein's App was banned in the country after getting caught up in a diplomatic Tussle.

The Shein India fast fashion App represents a departure from reliance's strategy of adding brands to its flagship fashion App Ajio--whose offering includes Superdry and gap--as it competes with rivals such as Myntra from Walmart's Flipkart.

Shein, founded in China in 2012 and later headquartered in Singapore, offers a vast selection of low-priced Western clothes. Its app was banned in India in 2020 alongside other Chinese Apps such as Bytedance's Tiktok due to data security concerns, after a border dispute soured Indo-Chinese relations.

Reference Sources

1. indiatoday - Shein is back! Reliance relaunches Chinese fashion giant in India after 2020 ban
2. nikkei - Ambani's Reliance brings Shein back to India after 2020 app ban

Trump says Canada, Mexico and China tariffs 'will all be worth it' — but may cause some 'pain'

(Source: Shutterstock)

President Donald Trump has signed an executive order to impose 25% across-the-board tariffs on Canada, Mexico, and China, citing their failure to meet his demands on helping crack the Fentanyl and illegal immigration trade.

The tariffs threaten to rupture a decades-old partnership on trade in North America while further straining relations with China.

Canadian Prime Minister Trudeau said on Sunday that Canada would impose 25% tariffs on C $155 billion (S $145 billion) worth of us goods in response to Trump’s tariffs.

China, for its part, said it “firmly opposes” the new tariffs, and that it will take “corresponding countermeasures” to safeguard rights and Interests.   

Reference Sources

1. newyorkpost - Shopify CEO defends Trump tariff demands, slams Trudeau
2. cnnen - With tariffs signed, Trump warns of pain to come for Americans
3. bussinesstimes - Canada, Mexico announce retaliatory tariffs against US; China turns to WTO - The Business Times
4. latimes - Trump says Americans could feel ‘some pain’ from his new tariffs that triggered a trade war
5. newyorkpost - Trump says Canada, Mexico and China tariffs 'will all be worth it' — but may cause some 'pain'

The CommonWealth English daily news digest is a service curated by CommonWealth English team with the help of AI tools.

Have you read?

• Daily News Digest: DeepSeek Proved Open Source Outpaces Proprietary Models, Meta's AI Chief Says
• From Chip War to Cloud War in the Age of AI: Chris Miller on the US-China Tech Rivalry Under Trump 2.0
• Made in China 2025: How China Thrives Despite Tech Sanctions
• Daily News Digest: Google Pours Another $1B into Anthropic

Uploaded by Ian Huang