But I would say that the reaction was probably vastly overblown as what Deepseek really showed was there are much more efficient ways of doing things (which can also be applied with even larger clusters).
If this checkpoint is trained using non-Nvidia GPUs that would definitely be a much bigger situation but it doesn't seem like there has been any associated announcements.
And then part of the impact was just "woah, if some noname team from China can casually leapfrog major western players on a tiny budget and kill one of their moats in the same move, what other surprises like this are possible?". The event definitely invalidated a lot of assumptions investors had about what is or isn't possible near-term; the stock market reacted to suddenly increased uncertainty.
Not only DeepSeek uses a lot of Nvidia hardware for the training.
But even more so, by releasing an open weight frontier model, people around the world need more Nvidia chips than ever for inference.
DeepSeek helped "prove" to a lot of execs that "Good" is "Good enough" and that there are viable alternatives with less perceived risk of supply chain disruption - even if facts differ may from this narrative.
The hardware is great, CANN is not CUDA yet.
