DeepSeek, a Chinese artificial intelligence firm, released an open AI model last week and claimed it has beaten many foreign competitors on popular benchmarks.

The company also claimed it only spent $5.5 million to train DeepSeek V3, a fraction of the development cost of other models like OpenAI's GPT-4.

According to DeepSeek's internal benchmark testing, DeepSeek V3 outperformed both downloadable available models and closed AI models that can only be accessed through an API.

In a subset of coding competitions hosted on Codeforces, a platform for programming contests, DeepSeek outperforms other models, including Meta's Llama 3.1 405B, OpenAI's GPT-4o, and Alibaba's Qwen 2.5 72B.