DeepSeek’s AI model, which runs on less advanced chips, challenges the high valuations of companies like Nvidia. DeepSeek’s success highlights China’s ability to compete in

Powerful artificial intelligence software from Chinese startup DeepSeek indicates that its engineers built a competitive model despite US attempts to curtail China’s tech development, raising questions about the effectiveness of Washington’s trade curbs.

Reports that Chinese AI lab DeepSeek has created an AI model that rivals U.S. models sent shockwaves through AI chip stocks on Monday.