Founded in 2023 by Liang Wenfeng, who's driven by a vision to create artificial general intelligence (AGI), DeepSeek made headlines by dethroning OpenAI's ChatGPT as the most-downloaded free app on the
Apple App Store. The company’s
R1 model was celebrated for its reasoning capabilities and performance, and it became a serious competitor to established players like OpenAI, Google, and Meta. With an estimated development cost of just around
$5.6 million, it achieved what many perceived to be on par with much more expensive models from the U.S. tech giants.