DeepSeek, a Chinese AI company, is challenging US tech giants by developing advanced AI models efficiently and cost-effectively. Founded by financier Liang Wenfeng, DeepSeek's open-source model R1 competes with OpenAI's ChatGPT on various fronts at lower costs, raising global AI market concerns. The company's rapid growth, despite political and logistical hurdles, poses strategic challenges to American tech dominance.