DeepSeek, a Chinese AI company based in Hangzhou, focuses on developing open-source large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the AI industry for its latest AI developments. Impressively, 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 challenges faced for advanced AI chips, demonstrating DeepSeek's innovative approach in the global AI race.