New Delhi, Feb. 13 -- There have been two pivotal moments in the evolution of artificial intelligence (AI) in the last three years: the ChatGPT moment in November 2022 that jump-started the AI age and the DeepSeek moment this January which upended the narrative of high costs and centralized AI, replacing it with a story of lower costs and better democratized AI.

While doubts around DeepSeek's unbelievably low cost of $5.6 million have only grown, it is still pivotal for two reasons: an open-source model is almost as good as a proprietary one, and Chinese large language models (LLMs) are as good as US ones.

While US tech stocks, especially Nvidia's, tanked the week after, investors have kept their faith in US Big Tech firms that have ann...