Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on creating open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has made waves in the tech sector for its latest AI developments. Impressively, DeepSeek claims to produce AI comparable to leading models like GPT-4 at significantly lower prices and resource requirements. This breakthrough is particularly noteworthy given the US sanctions on China for Nvidia processors, demonstrating DeepSeek's innovative approach in the global AI race.