Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in creating open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has gained attention in the AI industry for its latest AI developments. Impressively, DeepSeek claims to produce AI comparable to top competitors at significantly lower prices and computing power. This breakthrough is particularly noteworthy given the US sanctions on China for advanced AI chips, showcasing DeepSeek's innovative approach in the global AI race.