DeepSeek, a Chinese AI company based in Hangzhou, specializes in creating open-source large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the tech sector for its DeepSeek-R1 model. Impressively, DeepSeek has developed AI rivaling top competitors at a fraction of the cost and computing power. This breakthrough is particularly remarkable given the US sanctions on China for Nvidia processors, demonstrating DeepSeek's technological prowess in the competitive AI landscape.