That's wrong. DeepSeek is a problem for Big Tech, not for Nvidia. Why? Imagine a small startup can do something better than Gemini or ChatGPT or Claude. So

That's wrong. DeepSeek is a problem for Big Tech, not for Nvidia. Why? Imagine a small startup can do something better than Gemini or ChatGPT or Claude. So it can be disruptive. What can Big Tech do to avoid disruption? Buying every SINGLE GPU Nvidia produces! They have the money and they can use the GPUs in research. The worst nightmare of any Tech CEO is a startup which disrupts you so you have to either be faster or you kill access to needed infrastructure for the startup. Or even better, the startup has to rent your cloud infrastructure, this way you earn money and you have an eye on what's going on. Additionally, Hyperscalers only get 50-60% of Nvidia's supply. They all complain of being undersupplied yet they get only 60% and not 99% of Nvidia's supply. How come? Because Nvidia has a lot of other customers they like to supply to. That alone tells you how huge the demand is that Nvidia even has to delay Big Tech deliveries. Also the demand for Nvidia didn't drop. DeepSeek isn't a frontier model. It's a distilled model therefore the moment OpenAI, Meta or the others release a new frontier model, DeepSeek will become obsolete and will have to start again to optimize.