Hangzhou DeepSeek, a Chinese AI company from China, focuses on developing open-source large language models. Established recently by High-Flyer's co-founder, the company has made waves in the AI industry for its latest AI developments. Impressively, DeepSeek claims to produce 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 advanced AI chips, showcasing DeepSeek's technological prowess in the global AI race.