Hangzhou DeepSeek, a Chinese AI company based in Hangzhou, focuses on creating open-source large language models. Established recently by Liang Wenfeng, the company has gained attention in the tech sector for its latest AI developments. Notably, DeepSeek has developed AI comparable to leading models like GPT-4 at a fraction of the cost and computing power. This achievement is particularly noteworthy given the challenges faced for advanced AI chips, showcasing DeepSeek's innovative approach in the global AI race.