DeepSeek AI Dethrones ChatGPT, Dents Nvidia's Market Value

China’s DeepSeek AI has surged to the top of Apple’s App Store, surpassing OpenAI's ChatGPT as the most downloaded free app. The startup's new R1 reasoning model echoes OpenAI’s performance at a fraction of the training cost and with fewer chips. Nvidia shares dropped over 12% amid growing skepticism over AI companies' compute strategies. Developers question the necessity of high-resource approaches following DeepSeek's claims.