• DeepSeek, an open-source large language model (LLM) developed by the Hangzhou-based company DeepSeek Artificial Intelligence Co., Ltd., has achieved remarkable success by matching the performance of ChatGPT at a fraction of the cost and computing power.

• Developed amidst US sanctions on China's access to Nvidia chips crucial for advanced AI development, DeepSeek's chatbot app rapidly gained popularity, surpassing ChatGPT as the most downloaded free app on the US iOS App Store within weeks o