The AI race gets frantic as Alibaba throws down a challenge at DeepSeek just days after ByteDance launches its own new AI model.

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 compute

When Chinese quant hedge fund founder Liang Wenfeng went into AI research, he took 10,000 Nvidia chips and assembled a team of young, ambitious talent. Two years later, DeepSeek exploded on the scene.