Hangzhou 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 claims to produce AI comparable to leading models like GPT-4 at significantly lower prices and resource requirements. This achievement is particularly noteworthy given the US sanctions on China for advanced AI chips, showcasing DeepSeek's technological prowess in the competitive AI landscape.