Hangzhou DeepSeek, a Chinese artificial intelligence firm based in Hangzhou, focuses on developing 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. 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 US sanctions on China for advanced AI chips, showcasing DeepSeek's technological prowess in the global AI race.