The buzz around Chinese AI startup DeepSeek began picking up steam earlier this month, when the startup released R1, its model that rivals OpenAI’s o1.

DeepSeek’s real achievement lies in its ability to develop a cutting-edge AI model while spending a fraction of what its US counterparts have. OpenAI’s development of GPT-4 cost upwards of $100 million,

Chinese AI chatbot DeepSeek has displaced OpenAI’s ChatGPT as the most downloaded app on the Apple App store and the market is panicking. Stocks for major AI connected companies like NVIDIA fell on Monday morning following the news.