Chinese AI startup DeepSeek’s claim of developing a powerful AI model at a much lower cost than major tech giants like Alphabet’s (GOOGL)

"It's using known techniques, actually many of the techniques we invented at Google and at DeepMind," Demis Hassabis said on Sunday.

Google DeepMind CEO Demis Hassabis said that DeepSeeks AI model is probably China's most impressive work but noted that it relies on existing techniques, suggesting the hype around it is a bit exaggerated.