China’s DeepSeek says it trained an AI model for less than $6 million. This is as big U.S. tech companies have poured billions of dollars into AI chips and systems for their projects.

DeepSeek stunned the tech world with the release of its R1 "reasoning" model, matching or exceeding OpenAI's reasoning model for a fraction of the cost.

DeepSeek’s success initially rattled investors’ assumptions about the AI spending wave that has swept Silicon Valley in recent years.

Scale AI CEO Alexandr Wang said during an interview with CNBC on Thursday, without providing evidence, that DeepSeek has 50,000 Nvidia H100 chips, which he claimed would not be di

A new and largely unknown Chinese AI system called DeepSeek has rocked the tech industry and global markets.Tech shares plunged and chip maker Nvidia suffered falls of nearly 17 per cent on Monday, as President Donald Trump warned DeepSeek’s emergence was a “wake up call” for existing AI giants.