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International Business Times

Business

Luke Funk

What Is DeepSeek, The Chinese Company Behind A Popular New AI App?

DeepSeek Artificial Intelligence

The DeepSeek app is seen on a mobile phone on January 27, 2025. Chinese firm DeepSeek's artificial intelligence chatbot has soared to the top of the Apple Store's download charts, stunning industry insiders and analysts with its ability to match its US competitors. (Credit: GREG BAKER/AFP via Getty Images)

DeepSeek has quickly risen to the top of downloads in Apple's App Store and the Chinese company's quick growth in the artificial intelligence market has sent share prices of the biggest tech companies in the United States sharply lower.

The DeepSeek AI Assistant was developed by Hangzhou DeepSeek Artificial Intelligence Co. which was founded by Liang Wenfeng. It is entirely funded by Chinese hedge fund High-Flyer.

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