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Nvidia is in danger of losing its monopoly-like margins

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But don&rsquo;t count it out yet

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DeepSeek sends a shockwave through markets

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Knowing what your colleagues earn

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The pros and cons of greater pay transparency

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Uncomfortably close

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Why Chinese AI has stunned the world

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The dragon in the mirror

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Chinese AI is catching up, posing a dilemma for Donald Trump

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The success of DeepSeek and other Chinese modelmakers threatens America&rsquo;s lead

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<div class="preheader" style="font-size: 1px; display: none !important;">Open your window to the world</div>
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              <a href="https://click.e.economist.com/?qs=f8d83e3f9411cb68e37108fee8a5c421c92cce50a13223eb2105825829b958ae77bab2afdb386bf24bc92acd18864996eea1564f24e19e21b3bad0385d5731e8" style="color:#121212; text-decoration:none;" target="_blank">Nvidia is in danger of losing its monopoly-like margins </a></p></td></tr><tr>
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              <a href="https://click.e.economist.com/?qs=f8d83e3f9411cb68e37108fee8a5c421c92cce50a13223eb2105825829b958ae77bab2afdb386bf24bc92acd18864996eea1564f24e19e21b3bad0385d5731e8" style="color:#121212; text-decoration:none;" target="_blank">But don&rsquo;t count it out yet</a></p></td></tr></table></div></td></tr><tr>
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                      <a  href="https://click.e.economist.com/?qs=f8d83e3f9411cb6894c472647d5737371c1767f5a4db220b0e98d0e0231bddcabedcb1439e99d9f71fce2543f7a6b85e87b3880d21f13cade63f30d1fdb6bd46" style="color:#e3120b; text-decoration:none;" target="_blank">Thinking about the demon drink </a>
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                      <a  href="https://click.e.economist.com/?qs=f8d83e3f9411cb6894c472647d5737371c1767f5a4db220b0e98d0e0231bddcabedcb1439e99d9f71fce2543f7a6b85e87b3880d21f13cade63f30d1fdb6bd46" style="color:#121212; text-decoration:none;" target="_blank">Health warnings about alcohol give only half the story </a>
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                      <a  href="https://click.e.economist.com/?qs=f8d83e3f9411cb6894c472647d5737371c1767f5a4db220b0e98d0e0231bddcabedcb1439e99d9f71fce2543f7a6b85e87b3880d21f13cade63f30d1fdb6bd46" style="color:#121212; text-decoration:none;" target="_blank">Enjoyment matters as well as risk</a>
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                      <a href="https://click.e.economist.com/?qs=f8d83e3f9411cb68622f14c846c61a3aaa58db79d37dbe3fd42456cfddb7f27d13b6596374db057e09eeb3eb3dbe76d747bcb60e8fc42ca15d522791bdf9dfe5" style="color:#e3120b; text-decoration:none;" target="_blank">Project 1897 </a>
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                      <a href="https://click.e.economist.com/?qs=f8d83e3f9411cb68622f14c846c61a3aaa58db79d37dbe3fd42456cfddb7f27d13b6596374db057e09eeb3eb3dbe76d747bcb60e8fc42ca15d522791bdf9dfe5" style="color:#121212; text-decoration:none;" target="_blank">America has an imperial presidency </a>
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