Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in developing 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. Impressively, DeepSeek claims to produce AI comparable to leading models like GPT-4 at significantly lower prices and computing power. This breakthrough is particularly noteworthy given the challenges faced for advanced AI chips, demonstrating DeepSeek's technological prowess in the competitive AI landscape.