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DeepSeek has raised questions about the effectiveness of US chip restrictions that aim to curtail China’s tech development. Now, the White House and the FBI are trying to determine if DeepSeek managed to buy advanced Nvidia chips through middlemen in Singapore to bypass those limits,

China’s DeepSeek says it trained an AI model for less than $6 million. This is as big U.S. tech companies have poured billions of dollars into AI chips and systems for their projects.

Stocks rose Friday as Apple led a broad rally following a strong investor reaction to its quarterly earnings report and the market closes out a whirlwind week highlighted by Nvidia’s record-breaking losses in reaction to China’s DeepSeek cheaper AI model and a flurry of earnings reports.