ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
| | |
Good afternoon! It's Daniel de Visé with your Daily Money, DeepSeek edition. |
The tech-heavy Nasdaq and broad S&P 500 indexes slumped on Monday, Medora Lee reports, after a competitive artificial intelligence model from a Chinese startup sowed doubts about the U.S. approach to AI. |
Losses were led by semiconductor darlings like Nvidia and Broadcom, whose chips fuel AI computing. Here are the numbers. |
So what is DeepSeek, anyway? |
This month, Chinese startup DeepSeek released a cost-efficient AI model to compete with OpenAI using a fraction of the computing power. |
DeepSeek, a Hangzhou-based startup founded in 2023, shot to the top of Apple's App Store free app chart after releasing a new open-source AI model it says rivals OpenAI's work. Its website was hit by outages amid a spike in interest. |
Solutions to the homeowners insurance crisis |
The devastating Los Angeles fires have been a grim reminder of America's homeowners insurance crisis, Andrea Riquier reports, as climate change intensifies potential property damage and insurers scramble to price rising risk. |
Consider: from 2000 to about 2013, insurance costs made up 7% to 8% of the typical mortgage payment. But starting about 2013, premiums surged. As of 2022, insurance costs made up over 20% of the typical mortgage payment, according to data from analytics provider First Street. |
📰 More stories you shouldn't miss 📰 |
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. |
Daniel de Visé covers personal finance for USA Today. | | | | The Nasdaq & S&P 500 fell after Chinese startup DeepSeek shows AI can be built cheaply, sparking fears AI spending will stall. The blue-chip Dow rose. | | | | Stocks tumbled after a Chinese AI startup said its models can compete with the likes of ChatGPT and other U.S.-based models at a fraction of the cost. | | | | As the homeowners insurance crisis gets worse, some state-led efforts are tackling the problem. | | | | While artificial intelligence will undoubtedly transform certain roles, it's also poised to create new opportunities and enhance our work. | | | | The pressure comes after President Trump issued an executive order directing government agency chiefs to dismantle DEI policies at federal agencies. | | | | Trump has previously said he expects to make a decision on the TikTok's future within the next 30 days. | | | | The Fed will likely pause its rate cuts this week. After that, uncertainty over Trump's tariff, immigration plans make forecasting rates a dice roll. | | | | DeepSeek stunned the tech world with the release of its R1 "reasoning" model, matching or exceeding OpenAI's reasoning model for a fraction of the cost. | | | | For Americans interested in careers that don't require a college degree, USA TODAY explored three jobs in growing career fields. | | | | Our app gives you award-winning coverage, crosswords, audio storytelling, eNewspaper and more. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
No comments:
Post a Comment