The little-known artificial intelligence firm has emphasized research, even as it emerged as the brainchild of a hedge fund.

DeepSeek’s AI products have shaken up the American stock market and tech industry—but some experts are questioning how big of a threat the Chinese company really is.

DeepSeek is a new artificial intelligence chatbot that’s sending shock waves through Wall Street, Silicon Valley and Washington. The app, named after the Chinese start-up that built it, rocketed to the top of Apple’s App Store in the United States over the weekend.