When Chinese artificial intelligence start-up DeepSeek unveiled an updated foundational model late in August, investors in Nvidia were stunned. Shares of the US chip giant slid, as market watchers grappled with news that the two-year-old start-up, which has developed models rivalling the world’s best, was shifting towards supporting domestically produced chips. Adding to their concerns, DeepSeek was not alone in its endeavour to empower China’s AI ambitions without relying on US technology. Last...