Chinese tech startup DeepSeek released a model of its AI service that seemingly is on-par with U.S.-based competitors like ChatGPT, but required far-less computing power.

The little-known artificial intelligence firm has emphasized research, even as it emerged as the brainchild of a hedge fund.

DeepSeek, a Hangzhou-based startup founded in 2023, shot to the top of Apple’s App Store free app chart after releasing a new open-source AI model it says rivals OpenAI's work. Its website was hit by outages amid a spike in interest.

Chinese tech startup DeepSeek said it was hit by a cyber attack on Monday that disrupted users’ ability to register on the site.

DeepSeek’s AI breakthrough challenges Big Tech with a cheaper, efficient model. This may be bad for the incumbents, but good for everybody else.