Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on creating advanced large language models. Founded in 2023 by High-Flyer's co-founder, the company has gained attention in the AI industry for its DeepSeek-R1 model. Impressively, DeepSeek has developed AI comparable to top competitors at significantly lower prices and resource requirements. 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.