Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, specializes in developing open-source large language models. Founded in 2023 by Liang Wenfeng, the company has made waves in the tech sector for its latest AI developments. Notably, DeepSeek has developed AI rivaling leading models like GPT-4 at significantly lower prices and computing power. This achievement is particularly noteworthy given the US sanctions on China for advanced AI chips, showcasing DeepSeek's innovative approach in the global AI race.