
DeepSeek poses a challenge to Beijing as much as to Silicon Valley
With the release of its latest artificial-intelligence (AI) model, DeepSeek, an obscure Chinese firm, has laid waste to several years of American policy meant to hold back Chinese innovation—and, in the process, blown a hole in the valuations of companies from Nvidia, America’s AI-chip champion, to Siemens Energy, a manufacturer of electrical equipment used in data…