Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on developing advanced large language models. Established recently by Liang Wenfeng, the company has made waves in the tech sector for its latest AI developments. Impressively, DeepSeek has developed 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.