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DeepSeek Launches V4 AI Model, SMIC Shares Jump 10%

4/25/2026

40 8 Full Breakdown

Summary

Story summary

DeepSeek unveiled preview versions of its V4 AI model, offering Pro and Flash variants, in Hangzhou on 24 April 2026.
DeepSeek prices output tokens at $3.48 per million, about one-tenth the $30 rate of comparable U.S. models.
Huawei confirmed full support for the V4 series on its Ascend AI processors.
After the launch, SMIC shares rose 10% in Hong Kong trading.
MiniMax and Knowledge Atlas each fell more than 9% after the launch.

History

Historical Context

In 2019 Huawei released the Ascend 910 AI training chip, codenamed Ascend-Max, delivering 256 TFLOPS FP16 performance with 32 Da Vinci Max cores. Building on that hardware, DeepSeek launched its V4 model in April 2026 using Ascend processors, prompting SMIC shares to rise while U.S. rivals saw price pressure. The episode shows how state-backed chip breakthroughs can reshape China’s AI market.

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Story summary

DeepSeek unveiled preview versions of its V4 AI model, offering Pro and Flash variants, in Hangzhou on 24 April 2026.
DeepSeek prices output tokens at $3.48 per million, about one-tenth the $30 rate of comparable U.S. models.
Huawei confirmed full support for the V4 series on its Ascend AI processors.
After the launch, SMIC shares rose 10% in Hong Kong trading.
MiniMax and Knowledge Atlas each fell more than 9% after the launch.

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