Global Market Bulletin for February 2025

China’s DeepSeek shakes up tech sector

Trump to reverse Biden ban on oil & gas drilling

Energy “the best opportunity in 3 decades”

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This last week the technology sector was shaken when Chinese Artificial Intelligence (Ai) start-up company DeepSeek announced it had developed an open source large language model (LLM) which was capable of teaching itself to improve its intelligence. Moreover, DeepSeek claimed its cost of development was tiny compared to the vast amounts being spent by the ‘Big 6’ American technology companies, MSFT, GOOGL, NVDA, AMZN, META and TSLA. (Apple (AAPL) is spending roughly a fifth of the amount being spent by the other large tech companies on Ai.)