Chinese AI firm DeepSeek has unveiled DeepSeek-R1, a large language model that rivals OpenAI's offerings in performance while being significantly more cost-effective. The model, which cost $5 million to train, uses fewer GPUs and is fully open source, available for free on Hugging Face. DeepSeek-R1's API costs are 90% lower than OpenAI's, and it features a user-friendly interface with web search integration, broadening its accessibility. The launch has drawn considerable attention in Silicon Valley, with some likening its potential impact to that of Android in the mobile industry. Despite its promising features, there are ongoing concerns about regulatory compliance and content restrictions within China.