Hangzhou DeepSeek, a Chinese AI company from China, specializes in creating open-source large language models. Founded in 2023 by High-Flyer's co-founder, the company has gained attention in the AI industry for its DeepSeek-R1 model. Notably, DeepSeek claims to produce AI rivaling top competitors at a fraction of the cost and resource requirements. This breakthrough is particularly remarkable given the challenges faced for advanced AI chips, showcasing DeepSeek's innovative approach in the global AI race.