CONDOLEEZZA RICE, AMY ZEGART: China's DeepSeek AI escalates fight to innovate. 4 trends we don't dare miss

DeepSeek's new AI model is causing deep consternation from Silicon Valley to Washington. Few would have predicted that a little-known Chinese startup with a couple of hundred homegrown engineers would be able to release a frontier AI model rivaling the capabilities of America's best and biggest tech companies – reportedly at a fraction of the cost and computational power. Experts are hotly debating just how many and which type of chips DeepSeek used and whether the company stockpiled them or circumvented U.S. export controls. But the release and viral adoption of a Chinese AI competitor model has already rattled markets, highlighted the urgent competition for global brainpower, and caused some to ask whether all those billions that U.S. tech companies have spent buying chips and building data centers built a competitive moat or a Maginot line. This moment is game on, not game over.