These are amazing times because we are at the beginning of a new Industrial Revolution.
This is the heart of US exceptionalism.
NVIDIA has the Midas touch in Silicon Valley, revenue growth year on year of 200% or more.
The emergence of DeepSeek now putting pressure on the US tech names.
Some people have said that DeepSeek has shown that the US is behind on AI and that China is creeping forward.
It turns out that you can possibly build a model
which is almost as good as the very best in the business
without having access to NVIDIA's best chips and made a fraction of the cost.
Artificial intelligence has become so advanced it has now surpassed human performance on several basic tasks.
Over the past few years we've seen a real revolution in the artificial intelligence industry.
A lot of companies and labs got set up to develop this technology
and they found that it was really important to scale what they were doing to apply more computing power,
to ingest more data, to come up with smarter algorithms to do that.
And what they found was that NVIDIA's chips were fantastically flexible
and good at performing all of the functions that they really needed to build AI.
It's basically had a second life,
which has surged it to one of the most important and valuable companies in the world
and they've become the hottest commodities in tech.
Let's talk about DeepSeek because it is mind-blowing and it is shaking this entire industry to its core.
It turns out that you can possibly build a model