Hangzhou DeepSeek, a Chinese artificial intelligence firm from China, specializes in creating open-source large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the tech sector for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI comparable to top competitors at significantly lower prices and computing power. This achievement is particularly remarkable given the US sanctions on China for Nvidia processors, showcasing DeepSeek's technological prowess in the competitive AI landscape.