Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing advanced large language models. Founded in 2023 by Liang Wenfeng, the company has gained attention in the tech sector for its latest AI developments. Impressively, DeepSeek claims to produce AI rivaling top competitors at a fraction of the cost and resource requirements. This breakthrough is particularly noteworthy given the US sanctions on China for advanced AI chips, demonstrating DeepSeek's innovative approach in the competitive AI landscape.