Speaker 1: Chinese-made DeepSeek has gained global attention with its recent release of an AI chatbot, which is being seen as similar to the already famous ChatGVT. Established players like Google, Meta, and Microsoft are facing a challenge as DeepSeek has been developed with a remarkable efficiency and is offered as open source. Founded in May 2023 by Liang Wenfang, DeepSeek is an AI company funded solely by HiFlyer, which is Wenfang's quantitative hedge fund. With a team of talented graduates from top Chinese universities, DeepSeek emphasizes innovation and technical expertise. DeepSeek R1 is a new large-language model or LLM designed for advanced reasoning and problem-solving tasks. The model is being hailed as a competitor to OpenAI's ChatGVT models. It should be noted that DeepSeek claims R1 matches and in some cases even surpasses ChatGVT in areas like mathematics and coding. The key highlight is that DeepSeek V3 was developed at a fraction of the cost needed to create frontier models like OpenAI, Meta, and others. DeepSeek which is a Chinese AI startup has emerged as the number one free app on the iOS App Store. It has also positioned itself as a free alternative to ChatGVT amidst talks of the latest intention to become a for-profit company. DeepSeek said that the model was built in just two months for just $5.58 million, while the CEO said that the cost of building a model like this was anywhere between $100 million to a billion dollars. DeepSeek was also built with fewer and inferior chips in comparison to ChatGVT, which reportedly needed 10,000 NVIDIA GPUs to process its training data. On the flip side, DeepSeek engineers said that they achieved similar results with just 2,000 chips. NASDAQ futures are down nearly 400 points in early trading on Monday, January 27, which is also reflecting in the potential gap-down start in the Nifty50 index ahead of the January monthly expiry and the union budget, which is scheduled for Saturday. And one of the key factors behind this steep fall is this Chinese AI startup, as per the experts. Wall Street analysts are also concerned whether DeepSeek will pop the US AI bubble. Shares like NVIDIA will also be in focus due to this after a 135% rally in 2024.