金吾财讯 | 芯片股延续跌势，宏光半导体(06908)跌4.84%，上海复旦(01385)跌4.34%，中芯国际(00981)跌3.28%，华虹半导体(01347)跌2.66%。隔夜美股芯片股受挫，DeepSeek爆火引发硅谷恐慌，迈威尔科技跌19.1%，博通收跌17.4%，英伟达跌近17%，台积电跌13.33%，美国超微公司跌6.37%，思科跌5.06%。高成本AI投资模式开始被质疑。硅谷科技巨头如在AI领域的投入动辄数十亿甚至数百亿美元，而DeepSeek的成功表明，AI模型的开发可能并不需要如此巨额的投资。这种对比让投资者开始怀疑当前的AI投资周期是否被过度炒作。据独立研究公司Melius Research整理的数据显示，DeepSeek的AI模型生成信息的成本大约是OpenAI ChatGPT的十分之一。Melius Research分析师Ben Reitzes表示，DeepSeek很可能掌握了利用更高效的内存和学习策略降低模型训练成本的方法。DeepSeek使用了一种只激活模型中最相关的部分来回答问题的计算类型，并且是开源的，这可以降低许可成本。Reitzes表示，竞争对手可能会通过调整资本支出来降低价格。
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