DeepSeek could be an extinction-level event for venture capital firms that went all-in on foundational model companies; investors say they are not panicking (Dan Primack/Axios)

Dan Primack / Axios:
DeepSeek could be an extinction-level event for venture capital firms that went all-in on foundational model companies; investors say they are not panicking  —  – It’s an open-source project hatched by a hedge fund, which at least for now seems aimed at developers instead of at enterprises or consumers.