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Chinese AI startup DeepSeek has launched large language models that rival those of Meta and OpenAI at a lower cost. Its mobile app has gained 1.6 million downloads, topping App Store charts in multiple countries and raising concerns for US AI companies about market dynamics and pricing strategies.

DeepSeek, a mobile AI application developed by a Chinese team, has overtaken OpenAI's ChatGPT to claim the number one spot on the iPhone free app charts in both China and the United States. This achievement comes shortly after the launch of DeepSeek's innovative "reasoning model,

US stock index futures also tumbled amid concerns DeepSeek’s AI models challenge US AI leadership. Read more at straitstimes.com.