According to CoinMeta, Chinese companies have launched 16 new models in just one month, further intensifying competition with American giants such as OpenAI, Anthropic, and Google. Chinese firms led by DeepSeek and Xiaomi are accelerating the development of cheaper and more open models. The CEO of Anthropic called on the industry to slow down in order to address AI security issues, but Chinese developers are moving in the opposite direction. Nikkei Asia reported that a DeepSeek engineer questioned the credibility of American giants. Meanwhile, the valuation of Moonshot AI has reached $50 billion, and it is about to undergo a financing round worth nearly $12 billion. China's cheaper AI models may weaken the pricing power of American giants and squeeze their profit margins. If profits cannot justify such substantial investments, the risk of a valuation correction for AI will increase, further exacerbating concerns about a AI bubble.