DeepSeek’s latest models, created by a small company with limited resources, are already beating many of the leading AI models in the United States.

SINGAPORE—A Chinese artificial-intelligence company has Silicon Valley marveling at how its programmers nearly matched American rivals despite using inferior chips. AI models from DeepSeek, the Chinese company,

In the fast-evolving world of artificial intelligence, Bay Area tech giants like OpenAI, Meta and Google have long been regarded as the undisputed leaders. But a Chinese artificial intelligence startup called DeepSeek is making waves in Silicon Valley and sending stock markets reeling.

Fears that the AI gold rush could be under threat rocked Wall Street on Monday following the emergence of a ChatGPT-like model from China, triggering predictions of turmoil for Silicon Valley and accusations of cheating.

Chinese firm DeepSeek’s artificial intelligence chatbot has soared to the top of the Apple Store’s download charts, stunning industry insiders and analysts with its ability to match its US competitors.

For the last several years, the US has been restricting the export of powerful AI accelerators and chip manufacturing equipment to China. The government hoped this would slow Chin