Cathie Wood Discusses Impact Of DeepSeek On U.S. Tech Industry

According to PANews, Cathie Wood, founder and CEO of Ark Investment Management, commented on the impact of DeepSeek on the U.S. technology sector. She stated that while DeepSeek is causing disruptions, competition is beneficial for the U.S., as it reduces costs globally. Wood likened the current state of artificial intelligence in the U.S. to the early 1990s internet, suggesting that it is not yet time for strict regulation despite the excitement surrounding it. Wood also mentioned that U.S. President Donald Trump may favor competition within the tech industry. Regarding Bitcoin, she anticipates significant regulatory clarity and legislative support in the U.S. She noted that the administration is highly supportive of the crypto industry, indicating that incorporating Bitcoin into treasury reserves would receive backing from U.S. government departments, marking a substantial shift.