Flyer, built a 100 billion yuan ($13.79 billion) portfolio using artificial intelligence models to make investment decisions, but in 2023 decided to change track to focus on developing the most cutting-edge AI.

U.S. companies were spooked when the Chinese startup released models said to match or outperform leading American ones at a fraction of the cost.

He told CNBC: "My understanding is that Deepseek has about 50,000 H100s, which they can't talk about obviously because it is against the export controls that the U.S. has put in p

Major Chinese tech company Alibaba claims that the latest version of this Qwen AI model has beaten out DeepSeek's V3, the model that flipped Silicon Valley on its head earlier this week. In a statement posted to the Chinese social media platform WeChat,

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Nvidia's market-cap loss on Monday was more than double the previous one-day record, set by Nvidia last September