Previously little-known Chinese startup DeepSeek has dominated headlines and app charts in recent days thanks to its new AI chatbot, which sparked a global tech sell-off that wiped billions off Silicon Valley’s biggest companies and shattered assumptions of America’s dominance of the tech race.

That's what some investors, after the little known Chinese startup DeepSeek released a chatbot that experts say holds its own against industry leaders, like OpenAI and Google, despite being made with less money and computing power.