Has DeepSeek popped the AI bubble?
From our UK edition
The arrest of Huawei's chief financial officer Meng Wanzhou in Canada in 2018, and the ensuing United States ban on high-end semiconductor exports to China, transformed Donald Trump’s “trade war” into a “tech war”. At the time, the US clearly felt it had a comparative advantage in technology, and that if it had to fight a battle against China, then picking tech as the battlefield made good sense. In September 2021, US commerce secretary Gina Raimondo, declared that: “If we really want to slow down China’s rate of innovation, we need to work with Europe”. As a result, Europe was roped into a cold war most European businesses – not least ASML, supplier of some of the world's most advanced chipmaking machines – would have rather avoided.
