The DeepSeek logo appears on a smartphone with the flag of China in the background. Less than two weeks ago, a scarcely known Chinese company released its latest artificial intelligence (AI) model and sent shockwaves around the world. DeepSeek claimed in a technical paper uploaded to GitHub that its open-weight R1 model achieved comparable or better results than AI models made by some of the leading Silicon Valley giants — namely OpenAI's ChatGPT, Meta’s Llama and Anthropic's Claude. And most staggeringly, the model achieved these results while being trained and run at a fraction of the cost. The market response…