Notes:

DeepSeek is a Chinese artificial intelligence company that develops LLM models, not unlike ChatGPT. The company was founded by the Chinese hedge fund "High-Flyer," ostensibly as a "side-project" that later spun off into its own company. In January 2025, DeepSeek released DeepSeek-R1, an LLM model that rivals OpenAI's models at a fraction of the cost. The development led many American tech workers to comment on how China may be underselling its AI capabilities, that Silicon Valley tech workers may be inflating operating costs for LLM models, and that the American tech bubble might be set to burst in 2025.