Who is behind DeepSeek and how did it achieve its AI ‘Sputnik moment’?

After years of worrying in the US that its artificial intelligence ambitions could be leapfrogged by Beijing, the biggest threat to Silicon Valley’s hegemony has come not from one of China’s big four tech firms, but from a previously little known startup.

Rather than Baidu, Alibaba, Tencent or Xiaomi topping the iOS app store with its latest chatbot this week and sending the markets reeling, it is DeepSeek – founded less than two years ago – that is being credited with a “Sputnik…