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DeepSeek has gone viral.

Chinese AI lab DeepSeek broke into the mainstream consciousness this week after its chatbot app rose to the top of the Apple App Store charts. DeepSeek’s AI models, which were trained using compute-efficient techniques, have led Wall Street analysts — and technologists — to question whether the U.S. can maintain its lead in the AI race and whether the demand for AI chips will sustain.

But where did DeepSeek come from, and how did it rise to international fame so quickly?

DeepSeek’s trader origins

DeepSeek is backed by High-Flyer Capital Management, a Chinese quantitative hedge fund that uses AI to inform its trading decisions.

AI enthusiast Liang Wenfeng co-founded High-Flyer in 2015. Wenfeng, who reportedly began dabbling in trading while a student at Zhejiang University, launched High-Flyer Capital Management as a hedge fund in 2019 focused on developing and deploying AI algorithms.

In 2023, High-Flyer started DeepSeek as a lab dedicated to researching AI tools separate from its financial business. With High-Flyer as one of its investors, the lab spun off into its own company, also called DeepSeek.

From day one, DeepSeek built its own datacenter clusters for model training. But like other AI companies in China, DeepSeek has been affected by U.S. export bans on hardware. To train one of its more recent models, the company was forced to use Nvidia H800 chips, a less-powerful version of a chip, the H100, available to U.S. companies.

DeepSeek’s technical team is said to skew young. The company reportedly aggressively recruits doctorate AI researchers from top Chinese universities. DeepSeek also hires people without any computer science background to help its tech better understand a wide range of subjects, per The New York Times.

DeepSeek’s strong models

DeepSeek unveiled its first set of models — DeepSeek Coder, DeepSeek LLM, and DeepSeek Chat — in November 2023. But it wasn’t until last spring, when the startup released its next-gen DeepSeek-V2 family of models, that the AI industry started to take notice.

DeepSeek-V2, a general-purpose text- and image-analyzing system, performed well in various AI benchmarks — and was far cheaper to run than comparable models at the time. It forced DeepSeek’s domestic competition, including ByteDance and Alibaba, to cut the usage prices for some of their models, and make others completely free.

DeepSeek-V3, launched in December 2024, only added to DeepSeek’s notoriety.

According to DeepSeek’s internal benchmark testing, DeepSeek V3 outperforms both downloadable, openly available models like Meta’s Llama and “closed” models that can only be accessed through an API, like OpenAI’s GPT-4o.

Equally impressive is DeepSeek’s R1 “reasoning” model. Released in January, DeepSeek claims R1 performs as well as OpenAI’s o1 model on key benchmarks.

Being a reasoning model, R1 effectively fact-checks itself, which helps it to avoid some of the pitfalls that normally trip up models. Reasoning models take a little longer — usually seconds to minutes longer — to arrive at solutions compared to a typical non-reasoning model. The upside is that they tend to be more reliable in domains such as physics, science, and math.

There is a downside to R1, DeepSeek V3, and DeepSeek’s other models, however. Being Chinese-developed AI, they’re subject to benchmarking by China’s internet regulator to ensure that its responses “embody core socialist values.” In DeepSeek’s chatbot app, for example, R1 won’t answer questions about Tiananmen Square or Taiwan’s autonomy.

A disruptive approach

If DeepSeek has a business model, it’s not clear what that model is, exactly. The company prices its products and services well below market value — and gives others away for free.

The way DeepSeek tells it, efficiency breakthroughs have enabled it to maintain extreme cost competitiveness. Some experts dispute the figures the company has supplied, however.

Whatever the case may be, developers have taken to DeepSeek’s models, which aren’t open source as the phrase is commonly understood but are available under permissive licenses that allow for commercial use. According to Clem Delangue, the CEO of Hugging Face, one of the platforms hosting DeepSeek’s models, developers on Hugging Face have created over 500 “derivative” models of R1 that have racked up 2.5 million downloads combined.

DeepSeek’s success against larger and more established rivals has been described as “upending AI” and ushering in “a new era of AI brinkmanship.” The company’s success was at least in part responsible for causing Nvidia’s stock price to drop by 18% on Monday, and for eliciting a public response from OpenAI CEO Sam Altman.

As for what DeepSeek’s future might hold, it’s not clear. Improved models are a given. But the U.S. government appears to be growing wary of what it perceives as harmful foreign influence.

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Elden Ring: Shadow of the Erdtree will send players on a new journey this summer to the Land of Shadow, where they will learn more about one of the game’s most mysterious demigods, Miquella of the Haligtree.

Game director Hidetaka Miyazaki says that players will track Miquella on their journey through the Land of Shadow, “tracing his path and following in his footsteps, trying to see what he’s going to do there,” similar to how players followed the light of grace in the base game. Players will also discover what compelled Queen Marika, who shattered the Elden Ring in the game’s story, to visit the Land of Shadow.

Elden Ring players who haven’t pored over the bits of lore scattered throughout the game’s dialogue and item descriptions may not know much about Miquella, and about his role in the game’s story. We’re here to tell you what you need to know so you don’t have to watch an hourlong lore video that unpacks it all.

Who is Miquella in Elden Ring?

A stone statue depicting rot-afflicted Malenia embracing her brother Miquella at the entryway to Haligtree Promenade in Elden Ring — A statue depicting Malenia and Miquella

Miquella of the Haligtree is a demigod in the world of Elden Ring and a being known as an Empyrean. That means he is a candidate to succeed Queen Marika as the vessel for the Elden Ring.

We don’t really see Miquella in the game, but he’s the older twin brother of Malenia, the fearsome, rot-afflicted boss who resides at the base of the Haligtree. An offspring of the game’s penultimate boss, Radagon, and Marika (who are, uh, the same person), Miquella only appears in withered cocoon form in the main game’s story. As teased in Shadow of the Erdtree’s reveal trailer, Miquella’s cocoon will be the doorway to the Land of Shadow when the DLC launches.

Malenia and Miquella were both born with terrible afflictions: Malenia with rot that would consume her limbs and sight, and Miquella with eternal childhood. Statues of the brother-sister duo are scattered throughout the Haligtree, showing full-grown Malenia embracing her twin, who is stuck in the body of a young boy. Other statues show the twins at a younger age being embraced by their older sibling, Godwyn the Golden.

Malenia calls Miqeulla “the most fearsome Empyrean of all,” with the wisdom and the allure of a god. Miquella is also said to be beloved by many, and can compel the affections of others.

What’s Miquella’s relationship to Malenia? And Mohg?

Malenia touches the roots of the Haligtree near Miquella’s former gestation chamber in a screenshot from Elden Ring

Malenia and Miquella were close. The former fought to protect her brother, earning her the name Malenia, Blade of Miquella. Miquella was similarly protective, and worked unsuccessfully to develop a remedy for Malenia’s rot affliction. One of Miquella’s inventions was an unalloyed golden needle, which players can use to undo the Flame of Frenzy. (Miquella strived to “ward away the meddling of Outer Gods,” according to the description of Miquella’s Needle; an Outer God appears to be responsible for the spread of rot, too.)

As part of his work to cure his sister and after leaving the faith known as the Golden Order, Miquella sought to create a new Erdtree, nurturing a sapling with his own blood. This endeavor would fail and produce the Haligtree, which would become a haven for the meek and afflicted. Miquella ultimately embedded himself within the Haligtree to grow it, residing in the cocoon, but he was kidnapped by Mohg, the Lord of Blood, who sought to become Miquella’s consort.

That’s why Mohg has Miquella’s cocoon in his chambers. Mohg essentially stole Miquella from his Haligtree womb, in which the Empyrean now appears to have grown older compared to his previous boylike form.

If Miquella’s stuck in that cocoon, how is he also in the Land of Shadow?

Miquella’s cocoon in Mohgwyn Dynasty Mausoleum after being activated by Mohg, a screenshot from Elden Ring — Miquella’s arm juts from his cracked cocoon in Mohg’s palace

Miquella is said to have “divest[ed] himself of his flesh, his strength, and his lineage,” according to Shadow of the Erdtree’s official description. Miquella may not be a purely physical being in the DLC, and the Land of Shadow may not be a purely physical space; FromSoftware has a history of sending players to alternate time periods and dreamlike spaces in its expansions for games like Dark Souls and Bloodborne.

Furthermore, there’s well-supported speculation that Miquella is connected to a character named St. Trina, who is also unseen in Elden Ring. Trina is said to be a mysterious character of ambiguous gender who has close associations with sleep and dreams, according to a few in-game item descriptions. Followers of St. Trina are said to look for her while they sleep, and we know that Miquella has been slumbering for some time.

Both Trina and Miquella are also associated with nearly identical in-game items — Trina’s Lily and Miquella’s Lilly — that may connect them in still-unclear ways. However, in content that was discovered to have been cut from Elden Ring, it’s hinted that Miquella and St. Trina are actually the same person. That connection could be explained or confirmed in Shadow of the Erdtree, insofar as things ever get “explained” in FromSoftware games.

Elden Ring: Shadow of the Erdtree will be released on June 20. Until then, there are plenty of deeper dives into Miquella lore to enjoy from creators like VaatiVidya, Smoughtown, and Arlun Grim if you want to be fully prepared for Elden Ring’s DLC.

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DeepSeek: Everything you need to know about the AI chatbot app