AllianzGI's global tech CIO: DeepSeek showed the Chinese are 'good at spinning a story'

Capex expected to continue to rise

The rise of Chinese artificial intelligence heavyweight DeepSeek failed to shift the dial on technology firms’ capital expenditure, according to Allianz Global Investors’ global technology CIO Jeremy Gleeson.

He explained that while "we are all used to US companies being very good at propaganda…the announcement that came out of DeepSeek showed the Chinese are quite good at spinning a story as well".  When DeepSeek first gained popularity in late January, investors questioned if its low-cost solutions to generative AI could dent the capital expenditure space race in the US, as mega cap technology companies continued to up their research and development budgets every quarter.  Deep Dive: Investors waiting for next big leap in AI after DeepSeek launch However, Gleeson argued that DeepSeek ...