There has been a breakthrough in artificial intelligence. A Chinese generative AI start-up called DeepSeek created a new AI model called DeepSeek-R1. This model, the company claimed, was built for about one thousandth the cost of the GenAI models built by the US tech giants. And because Western companies are not allowed to send cutting-edge chips and machinery to China, it was built using AI chips whose performance greatly lags the chips used by DeepSeek. (....)