US groups such as OpenAI that are racing to develop artificial intelligence are at risk of being undercut by cheaper rivals such as China’s DeepSeek, according to star investor and analyst Mary Meeker whose presentations on tech trends are followed across Silicon Valley.
Meeker, an early backer of companies including Meta, Spotify and Airbnb, told the Financial Times that new AI advances will mint “multiple companies worth $10tn and they probably will not all be based in North America”.
She added “the wealth creation will be extraordinary. We have never had a five billion-user market that one could get to so easily.”
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