The post Trump Crypto Czar remains confident in the US despite DeepSeek R1 success in ‘very competitive AI race’ appeared on BitcoinEthereumNews.com.

Over the weekend, the outstanding qualities of China’s AI startup, DeepSeek became apparent, and it sent shockwaves through the AI status quo in the west.  The open-source model was first released in December when the company said it took only two months and less than $6 million to create. The amount reported was noticeably far less than the hundreds of billions of dollars that tech giants such as OpenAI, Meta, and others have allegedly committed to developing their own models.  Throughout the day, fears grew that China may be surpassing the US in the scale and efficiency of its AI investments. However, Trump’s Crypto Czar, David Sacks, has expressed confidence in the US’s ability to continue to lead in AI innovation. David Sacks comments on DeepSeek’s success In a response posted on X (formerly Twitter), Sacks, whose position in Trump’s administration involves shaping US policy on artificial intelligence and cryptocurrency, admitted that DeepSeek has shown the AI race will be competitive.  He also praised the new president for rescinding the Biden EO, which he said “hamstrung American AI companies without asking whether China would do the same. (Obviously not)” Sacks is confident in the US, but he also thinks it can’t afford to be complacent in the race.  There were mixed opinions to Sacks’ sentiment, but most seemed to agree that things will no longer be the same with DeepSeek around.  As Crypto Czar, Sacks will play a role in creating a legal framework for the crypto industry and guide AI policy. DeepSeek’s success may provide the rationale to focus on minimal regulation to encourage innovation if he believes that is the only way to compete with China’s growing AI economy.  How tech stocks reacted to China’s DeepSeek  DeepSeek’s open-source model was released last year but its outstanding qualities did…

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Filed under: News - @ January 28, 2025 3:17 am