China's DeepSeek announced a new, low-cost AI model capable of processing extended texts. This release follows a previous model that challenged assumptions of US technological dominance in the AI sector.

China's DeepSeek on Friday released a new AI model with "drastically reduced" costs that it said was capable of processing extra-long texts to help it complete tasks. The company caused shockwaves last year after it revealed a reasoning model that upended assumptions of US dominance in the sector.