Ask HN: What Does Deepseek Mean?

Can anyone explain the impact of deepseek in a simple manner? I've heard that it basically China undercutting the US Algorithms on LLMs so they can train for much cheaper. Does this mean I should short sell NVIDIA? Is OpenAI inflated in valu?? WTF is going on? I really honestly have no idea what to make of the recent news. Someone help explain it simply.