The jury is still out on whether the Chinese AI upstart DeepSeek is a game changer or part of an elaborate plan by its hedge fund parent company to short

Australia has banned DeepSeek AI services from government systems due to national security risks, making it one of the first countries to act against the Chinese start-up. Home Affairs Minister Tony Burke emphasised the decision was based on security concerns rather than the company's origins.

DeepSeek, the controversial Chinese AI chatbot, is no longer available for download in Italy and Ireland. Both countries pulled the app from Apple and Google stores on Jan. 29, accusing the company of dodging questions about its handling of personal data and causing fears of Chinese government access to user information.