Hangzhou DeepSeek, a Chinese AI company from China, specializes in creating open-source large language models. Established recently by High-Flyer's co-founder, the company has gained attention in the tech sector for its DeepSeek-R1 model. Impressively, DeepSeek claims to produce AI rivaling top competitors at a fraction of the cost and resource requirements. This breakthrough is particularly remarkable given the US sanctions on China for advanced AI chips, showcasing DeepSeek's technological prowess in the global AI race.