If ChatGPT and Claude are forced to lower prices to compete with DeepSeek ($0.14/$0.28), their valuation changes: OpenAI: Drops from $852 billion to around $300–500 billion (down 40–65%) Anthropic: Drops from $965 billion to around $250–450 billion (down 50–75%) Heavy or layered investors like Microsoft, Amazon, NVIDIA, and SoftBank will be dragged down, causing a U.S. stock market crash. This is the root of the AI bubble.