The tech world experienced a costly and highly consequential wake-up call this week with the revelation that Chinese newcomer DeepSeek had developed an advanced AI model requiring just millions — rather than billions — of dollars in development costs. Despite concerns about DeepSeek security and that it possibly copied rival ChatGPT, the news sent US AI leaders reeling, causing them to lose more than $1 trillion in total market value — including nearly $600 billion from chip king Nvidia alone. The DeepSeek news also raised the possibility that the existing model of AI investment and development might soon be ready…