Chinese AI Startup DeepSeek Surpasses ChatGPT in App Store Rankings
Chinese AI startup DeepSeek has surged to the top of Apple’s App Store in the US, UK, and China, overtaking ChatGPT and other rivals. The app, powered by the open-source DeepSeek-V3 model, has gained rapid popularity since its launch in January 2025, challenging the perception of US dominance in the AI industry. DeepSeek’s researchers claim the model was developed for less than $6 million, a fraction of the billions spent by competitors like OpenAI. However, this claim has been disputed by some in the AI sector.
The rise of DeepSeek has sparked concerns among US tech giants and investors, with shares in AI-related companies such as Nvidia, Microsoft, and Meta falling. European tech stocks, including Dutch chipmaker ASML and Germany’s Siemens Energy, also saw significant declines. Analysts suggest that DeepSeek’s low-cost model could disrupt the AI supply chain, particularly as it uses fewer and less advanced chips, raising questions about the effectiveness of US export controls on advanced chips to China.
DeepSeek’s founder, Liang Wenfeng, a hedge fund manager and information engineering graduate, built the company using a stockpile of Nvidia A100 chips, now banned from export to China. The startup’s success has been attributed to its innovative approach to overcoming chip shortages, leveraging cheaper, lower-end chips to achieve competitive performance.
The development has also raised broader concerns about the future of AI investment, with some experts warning that DeepSeek’s success could derail the investment case for the entire AI supply chain. However, others caution that while DeepSeek poses a challenge, US companies still hold advantages in access to advanced chips and infrastructure.
The global AI race continues to intensify, with DeepSeek’s rise marking a significant milestone in China’s efforts to compete with Silicon Valley.
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