China is under pressure

Five chart to start your day

DeepSeek certainly unsettled OpenAI last week, plus it hammered Nvidia’s share price. But I can’t help feel that this was more like a bit of geopolitical point scoring. This $6 million figure that DeepSeek quoted in the development costs seems a little unbelievable, especially in a command economy like China where the state is ever present.

This of cours…