A new reasoning model developed by a Chinese artificial intelligence start-up – with its performance exceeding OpenAI’s GPT-5 and Anthropic’s Claude Sonnet 4.5 in a number of metrics – has fanned fresh debate about another DeepSeek moment and the trajectory of America’s AI supremacy. Beijing-based Moonshot AI, a start-up valued at US$3.3 billion and backed by Chinese tech giants like Alibaba Group Holding and Tencent Holdings, has presented another David-vs-Goliath story after creating an...