On April 26, DeepSeek unveiled the preview version of its latest model, V4, and released it as open-source software. On the same day, the company introduced a time-limited 75% discount for its V4-Pro API, reducing the cost per million Tokens for input cache hits to a mere 0.025 yuan post-discount. This move set a new global benchmark for pricing in the large-scale model market. Consequently, the stock prices of Hong Kong-listed entities MiniMax-W and Zhipu experienced a sharp decline.
