DeepSeek's new AI assistant, launched on January 20, quickly became the most downloaded free app on Apple's App Store
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DeepSeek was founded in 2023 by Chinese hedge fund High Flyer, which had been exclusively using AI in trading since 2021
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DeepSeek develops large language models (LLMs) that can underpin chatbots and other AI-based tools
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The AI is optimised for tasks like math and coding, making it a strong competitor in the AI space
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DeepSeek's latest V3 model was reportedly trained for just $5.5M, compared to the massive $100M needed for ChatGPT
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DeepSeek claims its simpler processes and modular scaling drastically reduce costs and energy requirements - it claims to be 40% more efficient than ChatGPT
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R1 is known to censor its responses in line with Chinese Communist Party values
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The chatbot program code is free to download, read and modify, unlike ChatGPT
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The model underlying R1 operates in a much less intensive manner. It is much cheaper to develop and run, requiring less data and computing power
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DeepSeek is also faster than GPT 4, more practical and, according to many experts