Startup Z.ai, formerly known as Zhipu, announced Monday a new, low-cost AI model as Chinese companies race to stay at the frontlines of the tech.

DeepSeek has seen use of its models drop to 80 per cent from 99 per cent on Chinese cloud computing platform PPIO.

Startup Z.ai, formerly known as Zhipu, announced Monday a new, low-cost AI model as Chinese companies race to stay at the frontlines of the tech.