Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, specializes in creating 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 claims to produce AI rivaling 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, showcasing DeepSeek's innovative approach in the competitive AI landscape.