DeepSeek's Impact on Wall Street: Optimistic Outlook Amid Market Disruption
DeepSeek, the revolutionary Chinese AI, has left a resounding impact on Wall Street as executives grapple with its potential implications for businesses.
Analyst Inquiries Surge
During earnings calls this week, executives faced numerous questions about DeepSeek from analysts. AlphaSense data reveals mentions of DeepSeek in at least nine earnings calls, a significant increase from the singular mention prior to Monday's announcement.
Optimism Prevails
Despite market fluctuations, the early outlook is generally optimistic. AT&T CEO John Stankey believes DeepSeek's lower costs will create new applications and business models, comparable to the internet's transformative impact.
Business Leader Perspectives
AT&T:
* CEO John Stankey emphasizes the importance of adaptability and leveraging DeepSeek effectively to avoid cost-related disadvantages.
Flex:
* CEO Revathi Advaithi recognizes increased demand for data services due to DeepSeek, driving industry growth and innovation.
Corning:
* CEO Wendell Weeks highlights the need for advancements in communication technologies to support DeepSeek's data-intensive applications.
Microsoft:
* CEO Satya Nadella mentions DeepSeek's Copilot+ PC laptop integration, highlighting its potential for seamless integration.
Meta:
* CEO Mark Zuckerberg acknowledges DeepSeek as a new competitor, emphasizing the importance of developing American standards in the open-source space.
IBM:
* CEO Arvind Krishna views DeepSeek as a validation of IBM's focus on smaller models and cost-efficient training for large language models.
Ongoing Developments
The full impact of DeepSeek is still unfolding, and Business Insider will continue to monitor corporate earnings reports to provide updates.