Hangzhou DeepSeek, a Chinese AI company from China, specializes in creating open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has made waves in the AI industry for its latest AI developments. Notably, DeepSeek has developed AI comparable to leading models like GPT-4 at a fraction of the cost and resource requirements. This achievement is particularly noteworthy given the US sanctions on China for advanced AI chips, showcasing DeepSeek's innovative approach in the global AI race.