Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on creating advanced large language models. Established recently by Liang Wenfeng, the company has made waves in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI comparable to leading models like GPT-4 at significantly lower prices and computing power. This breakthrough is particularly remarkable given the challenges faced for advanced AI chips, showcasing DeepSeek's innovative approach in the global AI race.