Chinese startup DeepSeek released a new artificial intelligence model with "drastically reduced" costs Friday, more than a year after it stunned the world with a low-cost reasoning model that matched the capabilities of US rivals.China's DeepSeek says releases long-awaited new AI model (AFP/Representative)The AI race has intensified the rivalry between China and the United States, and the White House on Thursday accused Chinese entities of a massive effort to steal artificial intelligence technology.Hangzhou-based DeepSeek burst onto the scene in January last year with a generative AI chatbot, powered by its R1 reasoning model, that upended assumptions of US dominance in…