People across China have taken to social media to hail the success of its homegrown tech startup DeepSeek and its founder, after the company unveiled its newest artificial intelligence model, sending shock waves through Silicon Valley and Wall Street.

DeepSeek released an open-source artificial intelligence model in December, saying it took only two months and less than $6 million to create it.

Nvidia shares closed down almost 17%, posting its biggest drop since March 2020 and erasing nearly $600 billion from the company's market cap. Broadcom fell 17.4%, and other chip stocks like Micron declined 11.

DeepSeek has delighted the Chinese internet ahead of Lunar New Year, the country's biggest holiday. It's good news for a beleaguered economy and a tech industry that is bracing for further tariffs and the possible sale of TikTok's US business.

DeepSeek’s latest models, created by a small company with limited resources, are already beating many of the leading AI models in the United States.

SINGAPORE—A Chinese artificial-intelligence company has Silicon Valley marveling at how its programmers nearly matched American rivals despite using inferior chips. AI models from DeepSeek, the Chinese company,

DeepSeek founder is now considered an 'AI hero' in China, following the recent announcements made by the company that changed the AI race.

U.S. stocks recovered some ground on Tuesday after getting hammered by fears over China's DeepSeek AI model built on a shoestring budget.

The emergence of China-based AI app DeepSeek sent shares plummeting on Monday for many U.S. tech giants, including chipmaker Nvidia and AI-backer Microsoft. Nvidia, which helped catapult market wide gains in recent years,

DeepSeek, a Chinese artificial-intelligence startup that’s just over a year old, has stirred awe and consternation in Silicon Valley after demonstrating AI models that offer comparable performance to the world’s best chatbots at seemingly a fraction of their development cost.

DeepSeek has Silicon Valley in awe and investors in a frenzy.The Chinese artificial-intelligence upstart has shot to prominence after saying it had trained high-performing AI models cheaply, without the most advanced chips.

The Chinese AI firm’s new model is rattling the tech industry and the stock market. Here’s some of the smart commentary on why.