Stokes and Gakpo part of £4m funding round for AI wealth firm Prosper January 30, 2025 England cricket captain Ben Stokes and Liverpool forward Cody Gakpo are part of a £4m funding round for a wealth management platform leveraging AI. The sportsmen joined Fuel Ventures, who led the round with a £2m investment, in London-based FinTech Prosper. Olympians Dame Jessica Ennis-Hill, Dame Sarah Storey and Tim Podcock, and footballers Ben White [...]
Is Deepseek more an attack on Wall Street than an AI innovation? January 30, 2025 The launch of Deepseek has been framed as the AI race’s Sputnik but the timing is dubious and questions are being asked about whether the tech is really as game-changing as its creators claim. Either way, America must stay vigilant, says Mark Minevich It started with a single, seismic headline: China builds an AI model [...]
DeepSeek accused of using OpenAI’s models to train its viral bot January 29, 2025 OpenAI has accused Chinese competitor DeepSeek of using its models to train the competing system, violating its property rights. The ChatGPT maker claimed that its new Chinese competitor employed a technique called ‘distillation’ – when a smaller model learns from its larger counterpart – to develop its new chatbot. Donald Trump’s artificial intelligence adviser, David [...]
Why DeepSeek’s breakthrough could blow up an AI market bubble January 29, 2025 DeepSeek’s new AI model made history on Monday by triggering US markets and wiping billions off leading tech stocks. Yet, its breakthrough may have a positive impact on the AI landscape. The Chinese startup’s new chat-bot, a rival to ChatGPT’s OpenAI, gained traction due to its ability to deliver high performance, at a far lower [...]
Year of the Snake: China faces ‘short term pain for long term gain’ January 29, 2025 As China welcomes in the new year today, markets are hopeful that the government’s strategy of ‘short term pain for long term gain’ is enough to push the Chinese economy to a new stage of development. In traditional Chinese culture, the Year of the Snake embodies qualities of introspection, transformation and adaptability. That year seems fitting for 2025, as [...]
DeepSeek’s fine, just don’t ask it about Taiwan January 28, 2025 The chaos that DeepSeek has triggered in US markets and among major tech players like Nvidia is because of what it represents. It is a supposedly cheaper, quicker model that apparently doesn’t rely on the tens of billions of dollars other models have required. But what’s it like to use? City AM experimented with a [...]
Stella McCartney buys back LVMH stake in her eponymous fashion brand January 28, 2025 Stella McCartney has bought back LVMH’s 49 per cent stake in her fashion brand, which the luxury giant has held for five years. McCartney will continue to advise LVMH chief Bernard Arnault and the group’s executive team on sustainability issues as global ambassador on sustainability. “This new chapter for Stella McCartney reflects her desire to [...]
DeepSeek: US AI tech giants face ‘Sputnik moment’ which could start new race January 28, 2025 The rapid rise of Chinese AI startup DeepSeek has been described as the US tech sector’s ‘Sputnik moment’ which “may well kickstart a new, even more energetic race”. US tech stocks took a battering yesterday after gaining global attention over its seemingly cheaper AI model which sparked a sell off in shares for its competitors. The sudden [...]
What is Chinese AI startup DeepSeek? January 27, 2025 Chinese AI startup DeepSeek rapidly gained global attention over the weekend as its seemingly impressive – and cheaper – new AI model sparked a sell off in shares for its global competitors. The tech firm launched its flagship AI chatbot in January, which is capable of delivering high performance while using less advanced hardware. It [...]
Nvidia tanks as Chinese AI startup Deepseek spooks global markets January 27, 2025 Nvidia is on track for the biggest one day loss of any company in history, as Chinese artificial intelligence (AI) startup Deepseek shakes up global tech markets. Nvidia, a key driver of the AI stock boom due to its advanced chips, saw its shares plummet over 14 per cent on Germany’s Tradegate on Monday. The [...]