Joel Elconin - AI Sector Outlook: DeepSeek News, Energy Considerations, Chips Makers, Technical Outlook
Joel Elconin, Co-Host of the PreMarket Prep Show joins us to share his thoughts on the major news over the weekend for the AI sector from DeepSeek. DeepSeek, a Chinese AI app, stated its AI model functions better than the US market leaders, such as OpenAI, using vastly less expensive chips. Markets, especially tech, took a big hit yesterday.
We delve into the significant market reactions to DeepSeek's announcement. We break down the technical and fundamental impacts on major stocks like NVIDIA, Oracle, and lower-tier chipmakers, as well as the broader implications for the AI, utility, and energy sectors. With the backdrop of NVIDIA's steep losses and concerns about the validity of DeepSeek's claims, Joel offers insights into market leadership in AI and the recent resilience of certain tech stocks like Apple.
We also explore broader market rotation and potential paradigm shifts, especially given upcoming tech earnings and central bank meetings.
