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Chinese artificial intelligence (AI) startup DeepSeek revealed shocked U.S. investors with claims it built its models at a fraction of the cost and with lower-tier chips. Companies like Microsoft (MSFT), Alphabet (GOOGL), Nvidia (NVDA), and OpenAI immediately started feeling the heat.
DeepSeek is open-source and the company claims that its models consume much less energy. This allowed DeepSeek to dethrone ChatGPT on the App Store as the most-downloaded free app.