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.

The Chinese artificial intelligence firm DeepSeek has rattled markets with claims its latest AI model performs on a par with those of OpenAI, despite using less advanced, more energy efficient computer chips.

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

DeepSeek, a Chinese artificial intelligence (AI) start-up, is sending shock waves through the U.S. tech sector by demonstrating its latest AI assistant, which achieves performance comparable to or even surpassing some of the world's best chatbots.

Less than a week after the new artificial intelligence platform DeepSeek sent investors spiraling in the United States, another AI model has popped up in China, claiming to be even better.