DeepSeek, a Chinese AI company based in Hangzhou, focuses on creating open-source large language models. Established recently by High-Flyer's co-founder, the company has made waves in the tech sector for its DeepSeek-R1 model. Notably, DeepSeek has developed AI comparable to leading models like GPT-4 at a fraction of the cost and resource requirements. This achievement is particularly remarkable given the US sanctions on China for advanced AI chips, showcasing DeepSeek's innovative approach in the competitive AI landscape.