Since Chinese AI company DeepSeek released an open version of its reasoning model R1 at the beginning of this week, many in the tech industry have been making grand pronouncements about what the company achieved,

DeepSeek’s ability to dramatically reduce inference costs ruffled feathers in the industry. Perplexity AI CEO Aravind Srinivas commented on its V3 model: "DeepSeek has effectively replicated O1-mini and made it open-source.