By Eduardo Baptista, Julie Zhu and Fanny Potkin BEIJING/HONG KONG/SINGAPORE (Reuters) - DeepSeek is looking to press home its advantage. The Chinese startup triggered a $1 trillion-plus sell-off in global equities markets last month with a cut-price AI reasoning model that outperformed many Western competitors.

A new report suggests DeepSeek is trying to rush its next-gen R2 model out as quickly as possible after the success of R1.

Alibaba, ByteDance, and Tencent are driving demand for NVIDIA H20 chips, fueling China’s AI boom despite U.S. export restrictions.

Demand for Nvidia's pricey artificial intelligence chips will be in focus when the company reports results on Wednesday as investors doubt the hefty spending on the technology after low-cost AI models from China's DeepSeek rattled the industry.

Nvidia’s H20 chips are in high demand in China—indicating that DeepSeek's more efficient AI doesn’t mean lower chip demand.