Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on developing advanced large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the tech sector for its latest AI developments. Impressively, DeepSeek has developed AI comparable to top competitors at significantly lower prices and computing power. This breakthrough is particularly noteworthy given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's technological prowess in the global AI race.