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 has developed AI rivaling top competitors at a fraction of the cost and computing power. This breakthrough is particularly noteworthy given the US sanctions on China for Nvidia processors, demonstrating DeepSeek's innovative approach in the global AI race.