Part 5/8:
One of the pressing questions is whether the change in investment strategy was an inevitable shift or if the announcement from Deep Seek marked a pivotal moment in the narrative. Hazen asserts that while costs were always expected to decline—as they have consistently done in electronics—Deep Seek's news expedited that recognition among investors.
The financial community, which had previously assumed that hardware manufacturers like Nvidia would maintain high pricing power and steady volume growth, now needs to rethink these assumptions. Hazen believes this narrative shift has been primarily due to market perception rather than a foundational change in technology.