DeepSeek, a Chinese AI company based in Hangzhou, specializes in creating open-source 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 rivaling top competitors at a fraction of the cost and computing power. This achievement is particularly noteworthy given the US sanctions on China for advanced AI chips, showcasing DeepSeek's innovative approach in the global AI race.