Chinese AI startup DeepSeek dethroned OpenAI's ChatGPT as the most downloaded free app on Apple's App Store, driving global tech stock sell-offs. DeepSeek's AI Assistant has garnered widespread acclaim for performance and accessibility. Analysts and industry leaders view DeepSeek's success as a turning point in the generative AI race, raising questions about open-source versus proprietary models, U.S. chip export restrictions, and the sector's financial sustainability.