Hangzhou DeepSeek, a Chinese AI company from China, specializes in developing open-source large language models. Established recently by Liang Wenfeng, the company has gained attention in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI comparable to top competitors at a fraction of the cost and resource requirements. This achievement is particularly noteworthy given the challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.