Chinese Ai Shakes Up Wall Street

(CNN)– Wall Street had a bumpy start to the week after a China-based artificial intelligence company announced its new Ai tool.

One year old start-up “Deep Seek” revealed a Chat GPT like model named “R-One”.

Analysts say it has all of the abilities of other models, but it is much cheaper to operate.

Officials at “Deep Seek” say they spent under $6 million to train the new model.

Other tech companies have forked out hundreds of millions, and sometimes billions for the same work.