Not overvalued exactly. I believe the main point is they claimed to have used much much less power to train it, and that it demonstrates equivalent capability on much much less power.

There’s been a huge stock bubble on speculation of near infinite demand for datacenters, and NVidia processors. If DeepSeek’s claims are true, they just popped that bubble. We don’t suddenly need so many new datacenters. Demand for NVidia processors is not infinite, and their stock price is excessive compared to reality